High Court of Gujarat · Judgments and reasoned final orders
Narayan Dyestuff Pvt. Ltd. v. Income Tax Officer, Ward 3(1)(1) or His Successor
R/Special Civil Application No. 1227 of 2023 ·
Reassessment limitation for AY 2015-16 under section 148 read with TOLA: following Revenue concession in Union of India v. Rajeev Bansal (para 19(f)) and Deepak Steel and Power Ltd., post-31.03.2021 section 148 notice issued on 25.06.2021 and consequential section 148A(d)/148 notices quashed.
1. FACTS OF THE CASE
For AY 2015-16, the Assessing Officer issued an initial notice under section 148 on 25.06.2021 relying on TOLA, followed by a notice under section 148A(b) on 24.05.2022 pursuant to Union of India v. Ashish Agarwal ((2022) 444 ITR 1 (SC)), and thereafter passed an order under section 148A(d) and issued a reassessment notice under section 148 in July/August 2022.
2. DISCUSSION BY THE COURT
Applying the Supreme Court's decisions in Union of India v. Rajeev Bansal ((2024) 469 ITR 46 (SC), para 19(f)) and Deepak Steel and Power Ltd. v. CBDT ([2025] 174 taxmann.com 144 (SC)), the Division Bench noted the Revenue's binding concession before the Supreme Court that for AY 2015-16 all notices issued on or after 01.04.2021 under TOLA had to be dropped because the 3-year period expired on 31.03.2019 (before TOLA) and the 6-year period expired on 31.03.2022 (outside the TOLA window).
3. JUDICIAL DECISION
Allowing Special Civil Application No. 1227 of 2023, the High Court quashed and set aside the notice issued after 31.03.2021 under TOLA as well as the consequential notice under section 148 issued in July/August 2022 for AY 2015-16.
4. OUTCOME
Assessee - Petition allowed; impugned section 148 notice dated 25.06.2021 and consequential reassessment notices for AY 2015-16 quashed and set aside.
5. AKHB REVIEW POINT
AKHB analysis: for AY 2015-16, any original section 148 notice issued between 01.04.2021 and 30.06.2021 relying on TOLA is unsustainable in view of paragraph 19(f) of Rajeev Bansal and Deepak Steel and Power Ltd.
Source: AKHB analysis based on Paragraphs 7-11; PDF pp. 4-12
Source and verification
13-page official High Court of Gujarat judgment PDF (20250825_GJHC240047672023.pdf).
Original PDF: 13 pages · SHA-256: f78fe38bc5dd9ce09327976fb3576b6dab508b701984012ab314badda8fee827
Supplied source-reviewed note retained; original bytes and identity validation checked in this release. Substantive re-review is not claimed for this record.
Applies sections 148, 148A and 149 of the Income-tax Act, 1961 read with TOLA for AY 2015-16. Income-tax Act, 2025 equivalence is not verified.
Full primary judgment PDF read page-by-page and verified against the AKHB Google Drive repository. Comprehensive subsequent judicial treatment has not been independently verified.
AI disclosure and professional disclaimer
AI-assisted source review. Independent human approval is not represented.
General research only. Read the complete judgment and verify applicable law and subsequent treatment before reliance.