https://www.taxtmi.com/caselaws?id=311399 The HC of Calcutta quashed the impugned re-assessment notices issued under Section 148 of the Income Tax Act post 31st March, 2021, citing non-compliance with statutory formalities under Section 148A as amended by the Finance Act, 2021. The court declared the Explanations in Notifications extending tax provisions beyond the specified period as ultra vires the Relaxation Act, 2020. The court ruled in favor of the petitioners, allowing for fresh re-assessment proceedings in accordance with the amended provisions, ensuring compliance with the revised statutory requirements. en-us Tue, 22 Feb 2022 00:00:00 +0530 Sat, 23 Dec 2023 09:44:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311399 The HC of Calcutta quashed the impugned re-assessment notices issued under Section 148 of the Income Tax Act post 31st March, 2021, citing non-compliance with statutory formalities under Section 148A as amended by the Finance Act, 2021. The court declared the Explanations in Notifications extending tax provisions beyond the specified period as ultra vires the Relaxation Act, 2020. The court ruled in favor of the petitioners, allowing for fresh re-assessment proceedings in accordance with the amended provisions, ensuring compliance with the revised statutory requirements. Case-Laws Income Tax Tue, 22 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311399