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Landmark SC Judgment on TOLA & for 90000 Income Tax Reassessment cases
Case Law Details
- Case Name
- Union of India & Ors. Vs Rajeev Bansal (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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Union of India & Ors. Vs Rajeev Bansal (Supreme Court of India)
In Union of India & Ors. vs Rajeev Bansal, the Supreme Court clarified the application of the Taxation and Other Laws Act, 2020 (TOLA) in relation to reassessment proceedings under the Income Tax Act, 1961. The Court ruled that after 1 April 2021, the Income Tax Act must be read in conjunction with its substituted provisions. TOLA continues to apply if actions under the Income Tax Act’s substituted provisions are due for completion between 20 March 2020 and 31 March 2021. The Court emphasized that Se...
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