Rajasthan High Court quashes reassessment notice issued under Sec 148 of the Income Tax Act

Last updated: 04 December 2021
Quick Summary
The Rajasthan High Court has quashed reassessment notices issued under Section 148 of the Income Tax Act, 1961. The court found that these notices were issued after the relevant provisions were substituted by the Finance Act, 2021, without following the mandatory procedure under the new Section 148A. As no reassessment proceedings had been validly initiated before the amendment, the old provisions could not be applied, and the notices were therefore deemed invalid.

Court :
High Court of judicature for Rajasthan

Brief :
The re­assessment notice issued to the petitioners under Section 148 of the Income Tax Act is quashed. However, it is left open to the assessing authority to initiate re-assessment proceedings in accordance with the provisions of the Act, as amended by the Finance Act, 2021 after making due compliance as required under the law. A copy of this order be placed separately in each file.

Citation :
CW/10985/2021

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mahendra gargieya
Published in Income Tax
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