Rajasthan HC Stays Final Order in Time-Barred Reassessment

Ram Babu Agarwal Vs ACIT (Rajasthan High Court)

Rajasthan High Court heard a plea by Ram Babu Agarwal challenging the reopening of his assessment for the Assessment Year (AY) 2012-13 through a notice issued under Section 148 of the Income Tax Act, 1961. The petitioner argued that the reassessment proceedings were time-barred under Section 149(1)(b) and thus beyond jurisdiction. Citing the Finance Act, 2021, he contended that notices for assessments prior to April 1, 2021, could not

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