SC order would mean that the change in law can't be an alibi for taxpayers to escape the proceedings initiated via the notices

Last updated: 09 May 2022
Quick Summary
The Supreme Court has ruled that reassessment notices issued under the unamended Section 148 of the Income Tax Act, even after April 1, 2021, will not be considered invalid. This decision means taxpayers cannot use the change in law as an excuse to avoid proceedings initiated by these notices. The ruling aims to resolve a significant backlog of over 9,000 appeals and balances the rights of both the revenue and taxpayers.

Court :
Supreme Court of India

Brief :
THE SUPREME COURT ON HELD THAT the reassessment notices issued under the unamended Section 148 of the Income Tax Act on or after April 1, 2021, will not be deemed to be invalid just because they were issued under the old law.

Citation :
CIVIL APPEAL NO. 3005/2022

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