TMI Blog2022 (7) TMI 1056X X X X Extracts X X X X X X X X Extracts X X X X ..... amended provision of the IT Act as those deemed to have been issued under section 148A of the IT Act as per the new provision section 148A and the Revenue ought to have been permitted to proceed further with the reassessment proceedings as per the substituted provisions of sections 147 to 151 of the IT Act as per the Finance Act, 2021, subject to compliance of all the procedural requirements and the defences, which may be available to the assessee under the substituted provisions of sections 147 to 151 of the IT Act and which may be available under the Finance Act, 2021 and in law As the present order shall be applicable PAN INDIA and all judgments and orders passed by different High Courts on the issue and under which similar notices wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esent case should be governed by the newly amended provisions relating to proceeding under section 147 of the Income Tax Act, 1961 and the formalities of which have not been observed and complied with, and as such, the same is bad in law. Taking note of the recent judgement of the Hon ble Supreme Court dated May 4, 2022 in the case of Union of India Ors. v. Ashish Agarwal passed in Civil Appeal No.3005 of 2022 and in view of the guidelines and law laid down in the aforesaid judgement of the Hon ble Supreme Court, and particularly taking note of paragraphs 10, 11 and 12 of the aforesaid judgement which are quoted below, I am not inclined to entertain this writ petitions. 10. In view of the above and for the reasons stated above, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reafter pass orders in terms of section 148A(d) in respect of each of the concerned assessees; Thereafter after following the procedure as required under section 148A may issue under section 148 (as substituted); (iv) All defences which may be available to the assessees including those available under section 149 of the IT Act and all rights and contentions which may be available to the concerned assessees and Revenue under the Finance Act, 2021 and in law shall continue to be available. 11. The present order shall be applicable PAN INDIA and all judgments and orders passed by different High Courts on the issue and under which similar notices which were issued after 01.04.2021 issued under section 148 of the Act are set aside an ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
