2023 (5) TMI 641 - SCH - Income Tax

Validity of Reopening of assessment - order passed u/s 148A(d) as it stood amended - Period of limitation to issue notice issued under Section 148A(b) - validity of notices issued by the Income Tax Department (Department) u/s 148 in light of the amendment by the Finance Act 2021, which introduced the new amended provisions i.e., Sections 147 to 151 with effect from 1st April, 2021 - HC held notice u/s 148 pertaining to AY 2015-16 was issued on 30th March 2021, i.e., prior to 1st April 2021. Also, it was beyond the period of six years after the expiry of the AY in question, thus notice is hereby quashed - HELD THAT - We are not inclined to interfere with the judgment(s) and order(s) passed by the High Court. The Special Leave Petitions are dismissed.

Summary

The Supreme Court of India dismissed the Special Leave Petitions and declined to interfere with the judgments and orders passed by the High Court. Delay was condoned, and all pending applications were disposed of.