9911796707
TMI Blog2024 (10) TMI 107X X X X Extracts X X X X X X X X Extracts X X X X ..... ssued to the Petitioner under Section 148 of the Income Tax Act, 1961 ("the Act") for reassessment of the returns filed for Assessment Year 2014-15. The essential ground of challenge is that the proceedings are evidently barred by limitation inasmuch as they have been initiated well beyond the period of limitation stipulated under Section 149 of the Act. The Assessment Year in question is 2014-15 for which the tax returns had been filed by the Assessee on 26 September, 2014. The notice under Section 148 has evidently been issued one year and 116 days after the expiry of 6 years since the end of the Assessment Year 2014-15 - the applicable period of limitation under Section 149. 3. The Petitioner-Assessee has filed this Writ Petition asking ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 22 - just about six days before the notice in Godrej. The Division Bench which dealt with the issue of limitation, in Godrej, held as follows:- 14. The Hon'ble Supreme Court in Ashish Agarwal (Supra) only deemed the first notice issued under Section 148 of the Act to be a show cause notice under Section 148A (b) of the Act and left all defences available to the assessee under Section 149 of the Act. The Hon'ble Supreme Court in Ashish Agarwal (Supra) did not grant any stay and the period from 21st May 2021 till the notice under Section 148A (b) of the Act is issued cannot be excluded under the second limb of the fifth proviso or even under the first limb. 15. The validity of a notice must be judged on the basis of the law exist ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2022 providing time to petitioner till 8th June 2022 to furnish a reply. The Revenue is seeking to exclude a period from 21st May 2021 to 4th May 2022 relying on Ashish Agarwal (supra) which, as explained earlier, cannot apply. Hence, the impugned notice dated 31st July 2022 is bad in law . [Emphasis Supplied] 7. A plain reading of the foregoing would make it clear that the ruling in Godrej explicitly rules that the validity of a notice under Section 148 must be judged on the basis of the law as existing on the date of which the notice is issued. In the instant case, the deadline for issuance of notices for Assessment Year 2014-15 had expired on 31st March, 2021. Consequently, and evidently, the notice issued in the instant case was hop ..... X X X X Extracts X X X X X X X X Extracts X X X X
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