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TMI Blog2024 (11) TMI 1204X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 149(1) - HELD THAT:- As decided in RAJEEV BANSAL [ 2024 (10) TMI 264 - SUPREME COURT (LB)] a notice could be issued under Section 148 of the new regime for assessment year 2021-2022 and before only if the time limit for issuance of such notice continued to exist under Section 149(1)(b) of the old regime. The first proviso to Section 149(1)(b) requires the determination of whether the time ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty lakhs or more. The proviso limits the retrospective operation of Section 149(1)(b) to protect the interests of the assesses. In view of the above, the present petition is allowed. The impugned order dated 01.05.2024 as well as the notice issued under Section 148 in respect of the AY 2017-18 are set aside. - HON'BLE MR. JUSTICE VIBHU BAKHRU AND HON'BLE MS. JUSTICE SWARANA KANTA SHARMA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the decision of this Court in Manju Somani v. Income Tax Officer Ward-70(1) Ors: Neutral Citation: 2024:DHC:5411-DB. 6. It is also relevant to note that the Supreme Court in a recent decision of Union of India Others v. Rajeev Bansal: 2024 SCC OnLine SC 2693 has observed as under: 46. The ingredients of the proviso could be broken down for analysis as follows: (i) no notice under Section 148 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... od of six years from the end of the relevant assessment year has expired at the time of issuance of the notice. This also ensures that the new time limit of ten years prescribed under Section 149(1)(b) of the new regime applies prospectively. For example, for the assessment year 2012-2013, the ten year period would have expired on 31 March 2023, while the six year period expired on 31 March 2019. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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