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2022 (5) TMI 1181 - HC - Income TaxReopening of assessment u/s 147 - pre-condition to initiate proceedings under Section 147 - Scope of notices under Section 148A of the Act, 1961 as substituted by the Finance Act, 2021 - Notice not issued within period of limitation - Additional Solicitor General of India has made a statement that as per Clause-7.1 of the Board’s circular dated 11.05.2022, the notices under Section 148 relating to the Assessment Years 2013-14, 2014-15 and 2015-16, shall not attract the judgment of Ashish Agarwal [2022 (5) TMI 240 - SUPREME COURT] and the impugned notice under Section 148 issued on 01.04.2021 for the Assessment Year 2014-15 is, therefore, clearly barred by limitation - HELD THAT:- As per Clauses 6.2 and 7.1 of the Board’s Circular dated 11.05.2022, if a case does not fall under Clause (b) of sub-Section (i) of Section 149 of the Act, 1961 for the Assessment Years 2013-14, 2014-15 and 2015-16 (where the income of an assessee escaping assessment to tax is less than Rs.50,00,000/-) and notice has not been issued within limitation under the unamended provisions of Section 149, then proceedings under the amended provisions cannot be initiated. The impugned notice under Section 148 of the Act, 1961 issued on 01.04.2021 for the Assessment Year 2014-15 and the impugned notice dated 13.01.2022 under Section 144 of the Act, 1961 and the reassessment order dated 13.01.2022 under Section 147 read with Section 144B of the Act, 1961 for the Assessment Year 2014-15 passed by the respondent No.4 are hereby quashed. The writ petition is allowed.
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