J.P. JANI, INCOME-TAX OFFICER, CIRCLE IV,WARD-G, AHMEDABAD vs INDUPRASAD DEVSHANKAR BHATT

The Supreme Court held that under Section 297(2)(d)(ii) of the Income-tax Act, 1961, a notice under Section 148 cannot be issued to reopen an assessment if the right to do so under the repealed Income-tax Act, 1922, was barred at the time the 1961 Act came into force. The Court emphasized that unless expressly provided, statutes should not have retrospective operation that affects rights already acquired. The appeal was dismissed, affirming the High Court's decision to quash the notice issued by the Income-Tax Officer.