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TMI Blog2025 (4) TMI 1222X X X X Extracts X X X X X X X X Extracts X X X X ..... f Section 148 of the Income Tax Act, 1961 ['Act']. The reassessment itself pertains to Assessment Year ['AY'] 2013-14. 2. For the purposes of convenience, Mr. Lalchandani, learned counsel representing the writ petitioner, has placed for our consideration the following tabular statement: - CHART IN ACCORDANCE WITH THE JUDGEMENT RENDERED IN THE CASE OF RAJEEV BANSAL, RAM BALRAM², AND KANWALJEET KAUR Assessment Year 2013-14 Notice under Section 148 of the Act [Pre-judgment dated 04.05.2022 rendered in the case of Union of India v. Ashish Agarwal] (Served on 02.07.2021) Annexure P-12 Surviving period/days before expiry of limitation on 30.06.2021 [Number of days computed by following formula: 30.06.2021 less date on which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and which essentially was the outcome of Section 3(1) of Taxation and Other Laws [Relaxation and Amendment of Certain Provisions] Act, 2021 ['TOLA']. 5. The second period which the Supreme Court took into consideration was the date of the issuance of the original notice upto 04 May 2022, when it came to render judgment in Union of India & Ors. v. Ashish Agarwal (2023) 1 SCC 617). The third period which was identified as being liable to be taken into account was that factored in by the Third Proviso to Section 148 of the Act, and which deals with the exclusion of time which is connected to the opportunity granted to the assessee to file a response to a notice under Section 148A(b). 6. We had while dealing with the aforesaid in Kanwaljeet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the question as to whether the reassessment notices could be said to be barred by the timelines as prescribed by Section 149 of the Act. 18. The surviving period with which Question 'A' is concerned, was lucidly explained by the Supreme Court in Rajeev Bansal, and we thus deem it apposite to extract the following passages from that decision:- "110. The effect of the creation of the legal fiction in Union of India v. Ashish Agarwal [(2022) 444 ITR 1 (SC); (2023) 1 SCC 617.] 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the legal fiction, the deemed show-cause notices will also come into effect from May 1, 2021. After accounting for all the exclusions, the Assessing Officer will have sixty-one days (days between May 1, 2021 and June 30, 2021) to issue a notice under section 148 of the new regime. This time starts ticking for the Assessing Officer after receiving the response of the assessee. In this instance, if the assessee submits the response on June 18, 2022, the Assessing Officer will have sixty-one days from June 18, 2022 to issue a reassessment notice under section 148 of the new regime. Thus, in this illustration, the time limit for issuance of a notice under section 148 of the new regime will end on August 18, 2022. 113. In Union of India v. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rajeev Bansal. The Division Bench of the Court in Ram Balram upon application of the salient principles propounded by the Supreme Court in Rajeev Bansal came to hold as follows:- "65. Thus, in the facts of the present case, the last date for issuance of notice under Section 148 of the Act for AY 2013-14 under the statutory framework, as was existing prior to 01.04.2021 was 31.03.2020, that is, six years from the end of the relevant assessment year. 66. By virtue of Section 3(1) of TOLA time for completion of specified acts, which fell during the period 20.03.2020 to 31.12.2020 were extended till 30.06.20218 . Thus, the notice dated 01.06.2021 was issued twenty-nine days prior to the expiry of period of limitation for issuing a notice un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sue a notice under Section 148 of the Act. The said notice was required to be accompanied by an order under Section 148A(d) of the Act. Thus, the AO was required to pass an order under Section 148A(d) of the Act within the said twenty-nine days notwithstanding the time stipulated under Section 148A(d) of the Act. This period expired on 12.07.2022 70. Since the period of limitation, as provided under Section 149(1) of the Act, had expired period to issuance of the impugned notice on 20.07.2022. the said is squarely beyond the period of limitation. 20. The Court in Ram Balram was concerned with a notice for reassessment which had come to be issued on 01 June 2021 and thus falling within the broad Section 3(1) TOLA period of 20 March 2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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