Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier assessment years.

Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier assessment years. https://www.taxtmi.com/highlights?id=105220 The first proviso to section 149(1)(b) preserves the reassessment limitation available under the pre-amendment regime for assessment years commencing on or before 1 April 2021. The fifth and sixth provisos regulate computation under the amended three-year or ten-year framework but cannot extend that preserved limitation. Consequently, a reassessment notice for assessment year 2015-16 issued after expiry of six years from the end of the relevant assessment year was time-barred, and the consequential reassessment order was invalidated. en-us Wed, 21 Oct 2026 08:37:56 +0530 Wed, 21 Oct 2026 08:37:58 +0530 TaxTMI RSS Generator Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier assessment years. https://www.taxtmi.com/highlights?id=105220 The first proviso to section 149(1)(b) preserves the reassessment limitation available under the pre-amendment regime for assessment years commencing on or before 1 April 2021. The fifth and sixth provisos regulate computation under the amended three-year or ten-year framework but cannot extend that preserved limitation. Consequently, a reassessment notice for assessment year 2015-16 issued after expiry of six years from the end of the relevant assessment year was time-barred, and the consequential reassessment order was invalidated. Highlights Income Tax Wed, 21 Oct 2026 08:37:56 +0530 https://www.taxtmi.com/highlights?id=105220