Cadence Real Estates Private Limited Vs ACIT/DCIT & Ors (Delhi High Court)
Delhi High Court, in the case of Cadence Real Estates Private Limited Vs ACIT/DCIT & Ors, clarified its December 15, 2021, judgment regarding reassessment notices. The court stated that its previous ruling, which quashed Section 148 notices issued on or after April 1, 2021, due to non-compliance with the Finance Act, 2021, does not apply to notices issued prior to that date. This clarification specifically addresses a reassessment notice dated March 31, 2021, for Assessment Year 2015-16, which was inadvertently overlooked during the initial proceedings.
FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT
1.Present application has been filed by the respondents-applicants seeking clarification of the judgment dated 15th December, 2021 passed in W.P.(C) 7584/2021 to the extent that the aforesaid judgment is not applicable to the re-assessment notice dated 31st March, 2021 issued under Section 148 of the Income Tax Act, 1961 in respect of re-assessment proceedings for the Assessment Year 2015-16.
2. Learned counsel for the respondents-applicants states that inadvertently the factum of issuance of notice dated 31st March, 2021 for the Assessment Year 2015-16 was not brought to the notice of this Court by either of the parties.
