Allahabad HC Quashes section 148 Notices issued Post 31.03.2021

Ashok Kumar Agarwal Vs Union of India and 2 Others (Allahabad High Court) Ashok Kumar Agarwal (the Petitioner) had filed a Petition to challenge the initiation of re-assessment proceedings under Section 148 of the Income Tax Act, 1961 (the IT Act) for different Assessment Years (AYs). The Petitioners contended that all the impugned re-assessment proceedings had been initiated upon notices issued after April 01, 2021 and the Finance Act, 2021 had made certain substitutions regarding the procedures of reassessment. The Petitioners therefore prayed that the reassessment proceedings are invalid a...