On writ petitions challenging the notices for reassessment issued under section\u00a0148\u00a0of the\u00a0Income-tax Act, 1961\u00a0after April 1, 2021 for periods prior to April 1, 2021 on the grounds that they were issued without following the procedure laid down under section\u00a0148A\u00a0which was inserted with effect from April 1, 2021 Court held that all the notices for reassessment were to be quashed. The Department did not dispute the factual contentions of the assessee. Court also held that notification dated March 31, 2021 issued by the CBDT substitution of reassessment provisions framed under the Finance Act, 2021 was not deferred nor could they have been deferred. The date of such amendments coming into effect remained April 1, 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-New procedure with effect from 1-4-2021 Notices for prior periods issued without complying with new provision-Notices were quashed. [S. 147, 148,149(1)(b), Taxation and Other Laws (Relaxation and amendment of Certain Provisions) Act, 2020, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-33512","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8Iw","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=33512"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33512\/revisions"}],"predecessor-version":[{"id":33513,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33512\/revisions\/33513"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=33512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=33512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=33512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}