https://www.taxtmi.com/caselaws?id=788468 A reassessment notice issued on 03.04.2022 for A.Y. 2015-16 was held to be time-barred because, under the unamended limitation under section 149(1)(b), notice could be issued only up to 31.03.2022. The first proviso to section 149(1), introduced by the Finance Act, 2021, prevents use of the amended reassessment regime where, under the earlier law, the notice was already out of time. The exclusion provisions in the amended section 149 do not revive a notice barred by the first proviso. On that basis, the reassessment order was quashed and relief was granted to the assessee. en-us Wed, 04 Mar 2026 00:00:00 +0530 Mon, 23 Mar 2026 08:49:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788468 A reassessment notice issued on 03.04.2022 for A.Y. 2015-16 was held to be time-barred because, under the unamended limitation under section 149(1)(b), notice could be issued only up to 31.03.2022. The first proviso to section 149(1), introduced by the Finance Act, 2021, prevents use of the amended reassessment regime where, under the earlier law, the notice was already out of time. The exclusion provisions in the amended section 149 do not revive a notice barred by the first proviso. On that basis, the reassessment order was quashed and relief was granted to the assessee. Case-Laws Income Tax Wed, 04 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788468