Reopening Cannot Be Quashed Using New Law Retrospectively – Matter Remanded to CIT(A)

DCIT Vs Novotech Steel & Alloys Private Limited (ITAT Mumbai) Reopening Cannot Be Quashed Using New Law Retrospectively – Matter Remanded to CIT(A) Mumbai ITAT held that the CIT(A) erred in quashing a reassessment notice by applying the amended provisions of Section 149 (Finance Act, 2021) retrospectively. The reassessment notice was issued on 18.03.2020 (pre-amendment regime). However, the CIT(A) quashed it by applying the post-01.04.2021 limitation of 3 years (where escaped income < ₹50 lakh). The Tribunal clarified that such amended provisions cannot be applied to notices iss...