https://www.taxtmi.com/caselaws?id=420378 The court declared all notices issued under Section 148 of the Income Tax Act, 1961 after 1st April 2021 invalid for not complying with the amended provisions introduced by the Finance Act, 2021. It quashed the notices and allowed Assessing Officers to initiate fresh reassessment proceedings in line with the new provisions. The court emphasized that the old provisions ceased to exist after 31st March 2021 and must not be applied to actions initiated post 1st April 2021. It also held the CBDT Notifications No. 20/2021 and 38/2021 as ultra vires, emphasizing that subordinate legislation cannot revive repealed statutory provisions. en-us Tue, 29 Mar 2022 00:00:00 +0530 Sat, 30 Apr 2022 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420378 The court declared all notices issued under Section 148 of the Income Tax Act, 1961 after 1st April 2021 invalid for not complying with the amended provisions introduced by the Finance Act, 2021. It quashed the notices and allowed Assessing Officers to initiate fresh reassessment proceedings in line with the new provisions. The court emphasized that the old provisions ceased to exist after 31st March 2021 and must not be applied to actions initiated post 1st April 2021. It also held the CBDT Notifications No. 20/2021 and 38/2021 as ultra vires, emphasizing that subordinate legislation cannot revive repealed statutory provisions. Case-Laws Income Tax Tue, 29 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420378