Income Tax Reassessment Quashed for Being Time-Barred Under New Law

Anil Kumar Garg Vs DCIT (ITAT Delhi) Core Issue: Validity of reassessment proceedings in light of: (I) Section 149(1) (new regime), (II) Relaxation under TOLA, 2020, and (III) Surviving limitation period post Ashish Agarwal and Rajeev Bansal. Key Legal Questions Decided 1. Whether TOLA extends limitation for AY 2015-16? 2. Whether notices issued under the old section 148 between 01.04.2021 and 30.06.2021 for AY 2015-16 are valid? 3. Whether the final notice dated 21.07.2022 was within the surviving limitation period as explained by the Supreme Court in Rajeev Bansal? FACT-...