Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
The first proviso to section 149(1) preserves the earlier reassessment limitation for assessment years beginning on or before 1 April 2021. It prevents notice under the amended regime where notice was already time-barred under the pre-Finance Act 2021 limits. For A.Y. 2015-16, the note identifies expiry of the former six-year period on 31 March 2022; therefore, a section 148 notice issued thereafter is treated as time-barred, rendering the consequential reassessment unsustainable.
The first proviso to section 149(1) preserves the earlier reassessment limitation for assessment years beginning on or before 1 April 2021. It prevents notice under the amended regime where notice was already time-barred under the pre-Finance Act 2021 limits. For A.Y. 2015-16, the note identifies expiry of the former six-year period on 31 March 2022; therefore, a section 148 notice issued thereafter is treated as time-barred, rendering the consequential reassessment unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
