https://www.taxtmi.com/highlights?id=70450 Reopening of assessment u/s 147 - Time limit for notice - Scope of new provision section 148A - The High Court following the decision of Apex Court has held that, since the time period for issuance of reassessment notice for assessment year 2013-14 stood extended until 30th June, 2021 and the income alleged to have escaped assessment is beyond Rs.50 lakhs, the first proviso of Section 149 (as amended by the Finance Act, 2021) is not attracted in the facts of this case - SLP of the assessee dismissed - SC en-us Tue, 20 Jun 2023 17:25:57 +0530 Tue, 20 Jun 2023 17:25:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70450 Reopening of assessment u/s 147 - Time limit for notice - Scope of new provision section 148A - The High Court following the decision of Apex Court has held that, since the time period for issuance of reassessment notice for assessment year 2013-14 stood extended until 30th June, 2021 and the income alleged to have escaped assessment is beyond Rs.50 lakhs, the first proviso of Section 149 (as amended by the Finance Act, 2021) is not attracted in the facts of this case - SLP of the assessee dismissed - SC Highlights Income Tax Tue, 20 Jun 2023 17:25:57 +0530 https://www.taxtmi.com/highlights?id=70450