https://www.taxtmi.com/caselaws?id=465020 HC quashed the reassessment proceedings for AY 2015-16, holding the notice issued under section 148 as invalid. It ruled that the notice, though issued between 01.04.2021 and 30.06.2021, could not derive validity from the extended timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act (TOLA) once the new reassessment regime introduced by the Finance Act, 2021 came into effect. The court held that the Revenue could not invoke the old law through TOLA to issue notice beyond the limitation prescribed under the new scheme. en-us Tue, 12 Aug 2025 00:00:00 +0530 Mon, 01 Dec 2025 19:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465020 HC quashed the reassessment proceedings for AY 2015-16, holding the notice issued under section 148 as invalid. It ruled that the notice, though issued between 01.04.2021 and 30.06.2021, could not derive validity from the extended timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act (TOLA) once the new reassessment regime introduced by the Finance Act, 2021 came into effect. The court held that the Revenue could not invoke the old law through TOLA to issue notice beyond the limitation prescribed under the new scheme. Case-Laws Income Tax Tue, 12 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465020