Income Tax - Highlights / Catch Notes
Income Tax - Validity of Reopening of assessment - The initial notices...
Validity of Reopening of assessment - The initial notices u/s 148 issued on 31st March, 2021 Section 151 of the Act as it stood prior to 1st April, 2021 would apply. In terms thereof, undeniably, the previous sanction for issuance of both the notices was taken only of the Additional CIT and not of either the Principal Chief CIT (for AY 2015-16) or the Principal CIT (for AY 2016-17). - Notices issued 148 are illegal, quashed - HC