01 .O4 2021 . under the unamended section 148 ln our view the same ought not to have been issued under the unamended Act and ought to have been issued under the substituted provisions of sections 1 47 to 1 5'1 of the lT Act as per the Frnance Act, 2021 . There appears to be genuine non-application of the amendments as the officers of the Revenue may have been under a bonafide belief that the amendments may not yet have been enforced. Therefore, we are of the opinion that some leeway must be shown in that regard which the High Courts could have done so. Therefore, instead of quashing and setting aside the reassessment notices issued under the unamended provision of lT Act, the High Courts ought to have passed an order construing the notices issued under unamended AcU unamended provision of the lT Act as those deemed to have been issued under section 1484 of the lT Act as per the new provision section 1484 and the Revenue ought to have been permitted to proceed further with the reassessment proceedings as per the substituted provisions of sections 147 to 151 of the lT Act as per the Finance Act, 2021 , subject to compliance of all the procedural requirements and the defences, which may be available to the assessee under the substituted provisions of sections 147 to 151 of the lT Act and which may be available under the Finance Ac|,2021 and in law. Therefore, we propose to modify the judgments and orders passed by the respective High Courts as under:-
