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2022 (2) TMI 1413 - HC - Income TaxValidity of reopening of assessment - period of limitation - statutory formalities u/s 148A - as argued Income Tax Authority concerned, before issuing the impugned notices u/s 148 have not observed the statutory formalities u/s 148A as prescribed by the Finance Act, 2021 which are applicable with effect from 1st April, 2021 before issuance of notices u/s 148 on or after 1st April, 2021? - HELD THAT:- In view of judgments and orders of this Court in the case of Manoj Jain Vs. Union of India & Ors. [2022 (1) TMI 741 - CALCUTTA HIGH COURT] and in the case of Bagaria Properties and Investment Private Limited & Anr [2022 (1) TMI 742 - CALCUTTA HIGH COURT] all these writ petitions herein are disposed of by allowing the same. Explanations A(a)(ii)/A(b) to the Notifications dated 31st March, 2021 and 27th April, 2021 are declared to be ultra vires the Relaxation Act, 2020 and are therefore bad in law and null and void. All the impugned notices under Section 148 of the Income Tax Act are quashed with liberty to the Assessing Officers concerned to initiate fresh re-assessment proceedings in accordance with the relevant provisions of the Act as amended by Finance Act, 2021 and after making compliance of the formalities as required by the law.
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