Section 148 notices issued beyond the "surviving time" period under TOLA are time-barred and invalid.

The petitioner challenged an order passed under Section 148A(d) and a notice issued under Section 148 of the Income Tax Act, 1961, both dated 24.07.2022, for Assessment Year (AY) 2014-2015

Initially, a notice was issued on 26.06.2021 under the old regime, extended by the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance/Act (TOLA)

Following the Supreme Court's ruling in Ashish Agarwal, this notice was treated as a show-cause notice under Section 148A(b)

Information was provided to the petitioner on 19.05.2022, but the final reassessment notice was not issued until 24.07.2022

Whether the impugned notice issued under Section 148 of the Act on 24.07.2022 was barred by limitation considering the "surviving time" principle established by the Supreme Court

The court applied Section 148 and 148A of the Income Tax Act, 1961, as amended by the Finance Act, 2021, in conjunction with Section 3(1) of TOLA

Union of India v. Ashish Agarwal, which converted old notices into new show-cause notices

Union of India v. Rajeev Bansal, which defined "surviving time"

Assessing Officers must issue reassessment notices within the timeframe remaining under the original statute of limitations, excluding the period stayed during the Ashish Agarwal implementation process; notices issued beyond this "surviving period" are time-barred

The Court calculated the "surviving time" based on the timeline provided in Rajeev Bansal. The original notice under the old regime was issued on 26.06.2021. Under TOLA, the deadline for AY 2014-2015 was extended to 30.06.2021; thus, only 4 days of "surviving time" remained as of the date of the original notice.

Following the Ashish Agarwal procedure, the revenue provided information on 19.05.2022. Allowing the mandatory 15-day period for the assessee to reply (ending 02.06.2022), the 4-day surviving period began to run from 03.06.2022. Therefore, the limitation for issuing the Section 148 notice expired on 09.06.2022.

Since the respondent issued the impugned notice only on 24.07.2022, it exceeded the permissible surviving timeframe.

The Court quashed and set aside the order under Section 148A(d), the notice under Section 148 dated 24.07.2022, and all consequential reassessment proceedings. The writ petition was allowed, and Rule was made absolute.