https://www.taxtmi.com/caselaws?id=420572 The court examined the challenge to notices issued under Section 148 of the Income Tax Act in 2021 and the interpretation of amended Section 148 and Section 148(A). The judgment emphasized the necessity of evidence indicating escaped income before issuing notices, requiring prior approval and ensuring the assessee's right to be heard. Citing decisions by the Allahabad and Delhi High Courts, reassessment notices issued post-amendment were set aside due to references to unamended provisions. Assessing authorities were permitted to initiate reassessment under the amended Act if legal requirements were met within the limitation period. All writ petitions were disposed of without costs, allowing reassessment proceedings under the amended Act if compliant with the law and within the limitation period. en-us Thu, 24 Mar 2022 00:00:00 +0530 Tue, 05 Apr 2022 09:09:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420572 The court examined the challenge to notices issued under Section 148 of the Income Tax Act in 2021 and the interpretation of amended Section 148 and Section 148(A). The judgment emphasized the necessity of evidence indicating escaped income before issuing notices, requiring prior approval and ensuring the assessee's right to be heard. Citing decisions by the Allahabad and Delhi High Courts, reassessment notices issued post-amendment were set aside due to references to unamended provisions. Assessing authorities were permitted to initiate reassessment under the amended Act if legal requirements were met within the limitation period. All writ petitions were disposed of without costs, allowing reassessment proceedings under the amended Act if compliant with the law and within the limitation period. Case-Laws Income Tax Thu, 24 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420572