https://www.taxtmi.com/caselaws?id=461045 Reassessment notices issued under the new regime must satisfy both the applicable limitation under section 149 and the correct prior sanction under section 151. For AY 2015-16, the six-year limit had already expired when notice under section 148 was issued, so the extended ten-year period could not be applied retrospectively; the notice and resulting reassessment were time-barred and invalid. For AY 2016-17, notice issued after three years required approval of the higher specified authority, but approval was taken only from the Principal Commissioner, making the defect jurisdictional and the reassessment liable to be quashed. en-us Mon, 02 Dec 2024 00:00:00 +0530 Sat, 08 Mar 2025 15:22:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461045 Reassessment notices issued under the new regime must satisfy both the applicable limitation under section 149 and the correct prior sanction under section 151. For AY 2015-16, the six-year limit had already expired when notice under section 148 was issued, so the extended ten-year period could not be applied retrospectively; the notice and resulting reassessment were time-barred and invalid. For AY 2016-17, notice issued after three years required approval of the higher specified authority, but approval was taken only from the Principal Commissioner, making the defect jurisdictional and the reassessment liable to be quashed. Case-Laws Income Tax Mon, 02 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461045