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2023 (1) TMI 775 - HC - Income TaxReopening of assessment u/s 147 - proceedings barred by limitation - HELD THAT:- According to Respondents in the normal course, the proceedings would have become time barred only on 31.03.2021, but because of the intercession of Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, the same stood extended further. Petitioner in rejoinder, says that by virtue of Finance Act, 2021, the maximum timeframe under Section 149 of the Act has been reduced to ten years. This is a matter which would require examination qua both issues raised before us.Accordingly, issue notice. List the matter on 26.07.2023.
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