Allahabad HC quashes Reassessment proceedings u/s 148 of the Income tax Act initiated from April 01, 2021

Last updated: 09 October 2021
Quick Summary
The Allahabad High Court has ruled that reassessment proceedings under Section 148 of the Income Tax Act, initiated from April 1, 2021, are invalid. This decision stems from amendments made by the Finance Act, 2021, which implicitly limited the scope of reassessment procedures and time extensions to those initiated before March 31, 2021. Consequently, notices issued after this date for reassessment were deemed inapplicable.

Court :
Allahabad High Court

Brief :
In Ashok Kumar Agarwal v. Union of India [WRIT TAX No. - 524 of 2021 dated September 30, 2021], Ashok Kumar Agarwal ("the Petitioner") had filed a Petition to challenge the initiation of re-assessment proceedings under Section 148 of the Income Tax Act, 1961 ("the IT Act") for different Assessment Years ("AYs").

Citation :
WRIT TAX No. - 524 of 2021 dated September 30, 2021

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Bimal Jain
Published in Income Tax
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