UNION OF INDIA Vs. ASHISH AGARWAL

JUDGEMENT

(1.) Leave granted in SLP (C) Nos. 6448/2022, 5381/2022, 5079/2022, 6092/2022, 6534/2022, 6158/2022, 6316/2022, 6281/2022, 6545/2022, 6038/2022. : Feeling aggrieved and dissatisfied with the impugned common judgment and order passed by the High Court of Judicature at Allahabad in Writ Tax No. 524/2021 and other allied writ tax petitions, by which the High Court has allowed the said writ petitions and has quashed several reassessment notices issued by the Revenue, issued under sec. 148 of the Income Tax Act, 1961, on the ground that the same are bad in law in view of the amendment by the Finance Act, 2021 which has amended Income Tax Act by introducing new provisions i.e. Sec. 147 to 151 w.e.f. 1/4/2021, the Revenue has preferred the present appeals.

(2.) Similar judgments and orders are passed by various other High Courts including High Court of Delhi; High Court of Rajasthan; High Court of Calcutta; High Court of Madras; High Court of Bombay, the particulars of which are as under: - <FRM>JUDGEMENT_11_LAWS(SC)5_2022_1.html</FRM> At this stage, it is required to be noted that approximately 90,000 such reassessment notices under sec. 148 of the unamended Income Tax Act were issued by the Revenue after 1/4/2021, which were the subject matter of more than 9000 writ petitions before various High Courts across the country and by different judgments and orders, the particulars of which are as above, the High Courts have taken a similar view and have set aside the respective reassessment notices issued under sec. 148 on similar grounds.

(3.) While appreciating the controversy, a few facts and the relevant statutory provisions applicable pre 1/4/2021 and post 1/4/2021 are required to be referred to.