Allowed
Trimurty Colonizers and Builders Private Limited v. Income Tax Officer
Rajasthan HCCW/607/2022
Case brief
AI extract
What is this about?
The High Court held that the reassessment provisions substituted by the Finance Act, 2021, effective from 01.04.2021, apply to notices issued thereafter, rendering notices issued under the old regime invalid. The Court further declared the CBDT explanations in the notification dated 31.03.2021 and 27.04.2021 ultra vires the Relaxation Act, 2020, as the delegate lacked the power to revive repealed
What did the court decide?
Impugned notices under Section 148 of the Income Tax Act, 1961 are quashed and set aside. All writ petitions are allowed.