Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
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.
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