https://www.taxtmi.com/caselaws?id=303195 Reassessment notices issued after 31 March 2021 had to comply with the substituted procedure under Sections 147 to 151 of the Income-tax Act, 1961, because the Finance Act, 2021 brought the amended scheme into force from 1 April 2021; notices issued under the old procedure were therefore invalid. The explanations inserted through notifications under Section 3(1) of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 were also ultra vires, as that provision authorised only extension of time limits and did not permit alteration of the reassessment procedure or deferment of the amended regime. The reassessment notices were quashed, with liberty to proceed in accordance with law if permissible. 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 Reassessment notices issued after 31 March 2021 had to comply with the substituted procedure under Sections 147 to 151 of the Income-tax Act, 1961, because the Finance Act, 2021 brought the amended scheme into force from 1 April 2021; notices issued under the old procedure were therefore invalid. The explanations inserted through notifications under Section 3(1) of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 were also ultra vires, as that provision authorised only extension of time limits and did not permit alteration of the reassessment procedure or deferment of the amended regime. The reassessment notices were quashed, with liberty to proceed in accordance with law if permissible. Case-Laws Income Tax Wed, 19 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303195