https://www.taxtmi.com/caselaws?id=303195 The High Court addressed the validity of reassessment notices issued post 31st March, 2021 under Sections 147 to 151 of the Income Tax Act, 1961. It declared Explanations in certain Notifications as ultra vires the Relaxation Act, 2020, quashed the reassessment notices, and allowed the writ petitions. The respondents/revenue were granted liberty to take further steps in accordance with the law, with the petitioners having the right to seek remedies if needed. The judgment emphasized compliance with the substituted Sections introduced by the Finance Act, 2021 for reassessment proceedings. en-us Wed, 19 Jan 2022 00:00:00 +0530 Thu, 07 Jul 2022 21:22:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303195 The High Court addressed the validity of reassessment notices issued post 31st March, 2021 under Sections 147 to 151 of the Income Tax Act, 1961. It declared Explanations in certain Notifications as ultra vires the Relaxation Act, 2020, quashed the reassessment notices, and allowed the writ petitions. The respondents/revenue were granted liberty to take further steps in accordance with the law, with the petitioners having the right to seek remedies if needed. The judgment emphasized compliance with the substituted Sections introduced by the Finance Act, 2021 for reassessment proceedings. Case-Laws Income Tax Wed, 19 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303195