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TMI Blog2024 (10) TMI 1623X X X X Extracts X X X X X X X X Extracts X X X X ..... lakhs - HELD THAT:- While examining the cases, the example as mentioned by the Apex Court in its judgment in Rajeev Bansal s case [ 2024 (10) TMI 264 - SUPREME COURT (LB)] and observations made in paragraph Nos. 110 and 111, shall also be taken into consideration. Cases, which fall less than the value of Rs. 50, 00, 000/- would have to be dropped keeping in view the stand taken by the revenue before the Apex Court, as observed in paragraph No. 53. The aforesaid exercise shall be conducted by the concerned competent Officer of the Department expeditiously, preferably, within a period of two months without any further delay. The decision shall be conveyed to the assessee in terms of the faceless regime by the concerned Officer keeping in view the provision of Section 144-B of the Act. If any of the petitioner/assessee is still aggrieved of the order passed, remedy in terms of the provision of the Act can be availed by him. - And CWP Nos. 1795, 1918, 1922, 2112, 1130, 1506, 1508, 1525, 1627, 1630, 1631, 1643, 1734, 1862, 2206, 2254, 2538, 2692, 2932, 2039, 12412, 9152, 577, 6729-2023 (O M), 9071-2023 (O M), 8369, 4366, 4580, 4629, 4655, 4704, 4732, 5229, 5469, 5669, 5751, 5818, 5892 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vneet Kaur, Sandeep Kumar Goyal, Vanita Goyal, Ads Associated Group, Raksha Goyal, Brijesh Singh, Ayush Chadha, Legal Heir Bimla Rani (Deceased), Ratesh Kumar, Suman Kandoi, Suresh Kumar, Rajesh Kumar Jindal, M/S Janta Rice Mill, M/S Mansa Devi Rice Mills, M/S Haryana Rice Mills, M/S Hrm Overseas, M/S Mansa Devi Rice Mills Through Its Partner, Sharda Devi, Kumar Steel And Engineering Works Through Its Partner Smt Paramjit Kaur, Satyam Jewellary House, Davinder Pal Singh Huf, Rajesh Goyal, M/S Accents For Living, Deepak Woolen Mills Export Though Its Partner Arjun Nath, Lekh Raj, Rajesh Kumar Jain, Rajesh Kumar Jain Huf, Sunita Jain, Deepak Khullar, Pankaj Goyal, Nafe Singh, Mahabir Industries Through Its Partner Manoj Khuranna, Gian Chand Versus Union of India And Ors. Hon ble Mr. Justice Sanjeev Prakash Sharma And Hon'ble Mr. Justice Sanjay Vashisth For the Petitioner-Assessee : Ms. Radhika Suri, Sr. Advocate with Mr. Abhinav Narang, Advocate, Mr. Pankaj Jain, Sr. Advocate with Mr. Divya Suri, Advocate, Mr. Yogesh Kumar Mittal, Advocate and Mr. Sachin Bhardwaj, Advocate, Mr. Satyam Aneja, Advocate, Mr. Nonish Kumar, Advocate and Mr. Shiv Charan Bhola, Advocate, Mr. Manpreet Ka ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dropped if the income chargeable to tax which has escaped assessment is less than Rupees fifty lakhs. xx xxx xx xxx xx xxx xx xxx 110. The effect of the creation of the legal fiction in Ashish Agarwal (supra) was that it stopped the clock of limitation with effect from the date of issuance of Section 148 notices under the old regime [which is also the date of issuance of the deemed notices]. As discussed in the preceding segments of this judgment, the period from the date of the issuance of the deemed notices till the supply of relevant information and material by the assessing officers to the assesses in terms of the directions issued by this Court in Ashish Agarwal (supra) has to be excluded from the computation of the period of limitation. Moreover, the period of two weeks granted to the assesses to reply to the show cause notices must also be excluded in terms of the third proviso to Section 149. 111. The clock started ticking for the Revenue only after it received the response of the assesses to the show causes notices. After the receipt of the reply, the assessing officer had to perform the following responsibilities: (i) consider the reply of the assessee under Section 149A( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... time limit of four years from the end of an assessment year falls between 20 March 2020 and 31 March 2021, then the specified authority under Section 151(2) has extended time till 31 March 2021 to grant approval; f. The directions in Ashish Agarwal (supra) will extend to all the ninety thousand reassessment notices issued under the old regime during the period 1 April 2021 and 30 June 2021; g. The time during which the show cause notices were deemed to be stayed is from the date of issuance of the deemed notice between 1 April 2021 and 30 June 2021 till the supply of relevant information and material by the assessing officers to the assesses in terms of the directions issued by this Court in Ashish Agarwal (supra), and the period of two weeks allowed to the assesses to respond to the show cause notices; and h. The assessing officers were required to issue the reassessment notice under Section 148 of the new regime within the time limit surviving under the Income Tax Act read with TOLA. All notices issued beyond the surviving period are time barred and liable to be set aside; Accordingly, it observed further and disposed of as under:- 116. The appeals filed by the Revenue are accor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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