https://www.taxtmi.com/caselaws?id=451107 The Madras HC quashed reassessment notices under Section 148 and orders under Section 148A(d) for assessment years 2016-17 and 2017-18. The court held that while the proviso to amended Section 149(1) applies the pre-amended four-year time limit for these assessment years, it does not incorporate pre-amended Section 151 by reference. Following precedents from Bombay and Delhi HCs, the court ruled that amended Section 151 applies for sanction validity. Since sanction was not granted by the authority specified under amended Section 151(ii), the reassessment proceedings were invalid. Consequently, draft assessment orders under Sections 144B/144C were also quashed. en-us Mon, 04 Mar 2024 00:00:00 +0530 Thu, 29 Aug 2024 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451107 The Madras HC quashed reassessment notices under Section 148 and orders under Section 148A(d) for assessment years 2016-17 and 2017-18. The court held that while the proviso to amended Section 149(1) applies the pre-amended four-year time limit for these assessment years, it does not incorporate pre-amended Section 151 by reference. Following precedents from Bombay and Delhi HCs, the court ruled that amended Section 151 applies for sanction validity. Since sanction was not granted by the authority specified under amended Section 151(ii), the reassessment proceedings were invalid. Consequently, draft assessment orders under Sections 144B/144C were also quashed. Case-Laws Income Tax Mon, 04 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451107