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Case Name : Narendra Gangadas Kanakia Vs Union of India (Bombay High Court)
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Narendra Gangadas Kanakia Vs Union of India (Bombay High Court)

Hon’ble Bombay High Court has stayed the proceedings under Section 148 of the Income Tax Act 1961 for AY 2014-15. The initial notice was issued after the time limit under old Section 148 expired. However on the basis of the judgment of the Supreme Court in Union of India v Ashish Agarwal, the old Section 148 notice was treated as show cause notice under the new Section 148A(b). A circular (Instruction dated 11 May 2022) was also issued by CBDT wrongly read

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