9911796707
TMI Blog2024 (9) TMI 1281X X X X Extracts X X X X X X X X Extracts X X X X ..... ssess the petitioner for Assessment Years [AY] 2012-13 [W.P.(C) 4412/2024] and 2013-14 [W.P.(C) 4418/2024] issued under Section 148 of the Income Tax Act, 1961 [Act]. 2. Undisputedly, and since the notices were issued on 30 March 2023, it would be the amended regime of reassessment which came into effect from 01 April 2021 which would be applicable. The actions for reassessment would thus have to satisfy the provisions made in the First Proviso to Section 149 (1) of the Act. The said provision reads as follows: "[149. Time limit for notice.- (1) No notice under Section 148 shall be issued for the relevant assessment year,- (a) if three years have elapsed from the end of the relevant assessment year, unless the case falls under clause ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eassessment pertaining to an AY prior to 01 April 2021 can be sustained only if it be compliant with the timeframes specified under Section 149 (1) (b), Section 153A or Section 153C as the case may be and on the anvil of those provisions as they existed prior to the commencement of Finance Act 2021. 4. Viewed in that light, it is manifest that the assessment for AYs 2012-13 and 2013-14 could not have been reopened. 5. This we note bearing in mind the following additional facts. The record would reflect that pursuant to a search and seizure operation conducted in respect of a third party on 09 February 2022, the petitioner was served with the notices under Section 148 on 30 March 2023. Undisputedly and for the purposes of reopening, bearin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the ten year block is deemed to be the date of receipt of books of accounts by the jurisdictional AO. The identification of the starting block for the purposes of computation of the six and the ten year period is governed by the First Proviso to Section 153C, which significantly shifts the reference point spoken of in Section 153A(1), while defining the point from which the period of the "relevant assessment year" is to be calculated, to the date of receipt of the books of accounts, documents or assets seized by the jurisdictional AO of the non- searched person. The shift of the relevant date in the case of a non-searched person being regulated by the First Proviso of Section 153C(1) is an issue which is no longer res integra and stands aut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... equires us to reckon it "from the end of the assessment year". This distinction would have to necessarily be acknowledged in light of the statute having consciously adopted the phraseology "immediately preceding" when it be in relation to the six year period and employing the expression "from the end of the assessment year" while speaking of the ten year block." 5. In view of the aforesaid, we find ourselves unable to sustain the impugned notice dated 13 March 2023 issued under Section 148 of the Act. 6. The writ petition is accordingly allowed and the impugned order dated 18 May 2023 disposing off the objections of the petitioner is hereby quashed. We in consequence also quash the notice dated 13 March 2023 purporting to commence proce ..... X X X X Extracts X X X X X X X X Extracts X X X X
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