TMI Blog2023 (4) TMI 1231X X X X Extracts X X X X X X X X Extracts X X X X ..... t. [ 2022 (5) TMI 240 - SUPREME COURT] Therefore, all requirement of new law prior to that show cause notice shall be deemed to have been complied with. Within 30 days i.e, by 2nd June 2022, the Assessing Officer shall provide to the assessees, in remaining cases, the information and material relied upon for issuance of extended reassessment notices. The assessee has two weeks to reply as to why a notice under section 148 of the Act should not be issued, on the basis of information which suggests that income chargeable to tax has escaped assessment in his case for the relevant assessment year. The time period of two weeks shall be counted from the date of last communication of information and material by the Assessing Officer to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Maratha, learned senior standing counsel, accepts notice on behalf of the respondents/revenue. 3. In view of the order that we propose to pass, Mr Maratha says that no counter-affidavit is required to be filed in the matter and that he will argue based on the record presently available to the court. Therefore, with the consent of the learned counsels for the parties, the writ petition is taken up for hearing and final disposal at this stage itself. 4. This writ petition concerns Assessment Year (AY) 2015-16. 5. The initial notice under Section 148 of the Income Tax Act, 1961 [in short, Act ] which was issued to the petitioner is dated 30.06.2021. 5.1 The record also shows that pursuant to the judgment rendered by the Supreme C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rial may not be provided in a case for AY 2013-14, AY 2014-15 and AY 2015-16, if the income escaping assessment, in that case for that year, amounts to or is likely to amount to less than fifty lakh rupees. Separate instruction shall be issued regarding procedure for disposing these cases. 8.0 Procedure required to be followed by the Assessing Officers to comply with the Supreme Court judgment: 8.1 The procedure required to be followed by the Jurisdictional Assessing Officer/Assessing Officer, in compliance with the order of the Hon'ble Supreme Court, is as under: The extended reassessment notices are deemed to be show cause notices under clause (b) of section 148A of the Act in accordance with the judgment of Hon&# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. The Assessing Officer is required to pass an order under clause (d) of section 148A of the Act to that effect, with the prior approval of the specified authority of the new law. This order is required to be passed within one month from the end of the month in which the reply is received by him from the assessee. In case no such reply is furnished by the assessee, then the order is required to be passed within one month from the end of the month in which time or extended time allowed to furnish a reply expires. If it is a fit case to issue a notice under section 148 of the Act, the Assessing Officer shall serve on the assessee a notice under section 148 after obtaining the approval of the specified authority under section 151 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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