https://www.taxtmi.com/caselaws?id=422519 The court ruled in favor of the petitioner, quashing the notice of re-assessment for the assessment year 2016-17. It emphasized the necessity of adhering to the new scheme introduced under Section 148A of the Act post 01.04.2021, highlighting that extended time limits cannot be used for past assessments. Additionally, the court declared explanations in notifications issued by the CBDT as unconstitutional and invalid, as they exceeded delegated legislative powers and attempted to alter statutory provisions. The judgment underscored the importance of upholding statutory provisions and invalidated the impugned notices based on statutory interpretation and constitutional validity principles. en-us Mon, 07 Mar 2022 00:00:00 +0530 Tue, 17 May 2022 08:40:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422519 The court ruled in favor of the petitioner, quashing the notice of re-assessment for the assessment year 2016-17. It emphasized the necessity of adhering to the new scheme introduced under Section 148A of the Act post 01.04.2021, highlighting that extended time limits cannot be used for past assessments. Additionally, the court declared explanations in notifications issued by the CBDT as unconstitutional and invalid, as they exceeded delegated legislative powers and attempted to alter statutory provisions. The judgment underscored the importance of upholding statutory provisions and invalidated the impugned notices based on statutory interpretation and constitutional validity principles. Case-Laws Income Tax Mon, 07 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422519