June 2026
Reassessment — New procedure — Time limit for issue of notice u/s. 148 — Exclusion of period for computation of period of limitation — Effect of decision of Supreme Court in case of Ashish Agarwal and Rajeev Bansal — “Surviving period” referred to by Court — Exclusion of time allowed to assessee to respond to initial notice — Held by High Court that Number of days remaining for passing order of issuance of notice would be two days — Period of two days expiring on 10/06/2022 or 27/06/2022 — Notice issued on 27/07/2022 issued much after surviving period — Notice barred by limitation.
14. Hitesh Ramniklal Shah v. ACIT: (2026) 486 ITR 281 (Bom): 2025 SCC OnLine Bom 5960
A. Y. 2014-15: Date of order 11/11/2025
Ss. 147, 148, 148A and 149 of ITA 1961
Reassessment — New procedure — Time limit for issue of notice u/s. 148 — Exclusion of period for computation of period of limitation — Effect of decision of Supreme Court in case of Ashish Agarwal and Rajeev Bansal — “Surviving period” referred to by Court — Exclusion of time allowed to assessee to respond to initial notice — Held by High Court that Number of days remaining for passing order of issuance of notice would be two days — Period of two days expiring on 10/06/2022 or 27/06/2022 — Notice issued on 27/07/2022 issued much after surviving period — Notice barred by limitation.
For the A. Y. 2014-15, the petitioner filed his return of income on September 29, 2014, declaring a total income of ₹64,86,660 in respect of which no scrutiny assessment was made. Respondent No. 1 issued a notice dated June 29, 2021 under the unamended provisions of section 148 of the Income-tax Act, 1961 after obtaining the approval of the Principal Commissioner of Income-tax, Mumbai-19. The petitioner filed his return of income on November 18, 2021 in response to the notice issued u/s. 148 of the Act declaring the same income that was declared in the original return of income.
After the judgment of the hon’ble Supreme Cour
