https://www.taxtmi.com/caselaws?id=419216 The court declared the reassessment notice challenged by the petitioner as invalid and quashed it, emphasizing the application of new reassessment provisions under the Finance Act, 2021. It clarified that notices issued post-01.04.2021 must adhere to the new scheme outlined in Section 148A, and extended time limits under Section 149(1)(b) cannot be used to reopen assessments for past periods. The court also ruled that explanations in notifications by the CBDT exceeded subordinate legislation's jurisdiction, declaring them unconstitutional and invalid. The judgment disposed of the petition by affirming the decision to quash the impugned notices. en-us Tue, 08 Feb 2022 00:00:00 +0530 Sat, 05 Mar 2022 07:59:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419216 The court declared the reassessment notice challenged by the petitioner as invalid and quashed it, emphasizing the application of new reassessment provisions under the Finance Act, 2021. It clarified that notices issued post-01.04.2021 must adhere to the new scheme outlined in Section 148A, and extended time limits under Section 149(1)(b) cannot be used to reopen assessments for past periods. The court also ruled that explanations in notifications by the CBDT exceeded subordinate legislation's jurisdiction, declaring them unconstitutional and invalid. The judgment disposed of the petition by affirming the decision to quash the impugned notices. Case-Laws Income Tax Tue, 08 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419216