INCOME TAX : As new reassessment provisions/procedure/time-limits made applicable w.e.f. 1-4-2021 by FA 2021,reassessment notices issued on or after 1-4-2021 must comply with new procedure/provisions/time-limits. Neither the Finance Act, 2021 nor section 3(1) of the Relaxation Act, 2020 delegate power to the Central Government to defer applicability of new reassessment provisions/procedure enacted by Finance Act, 2021.INCOME TAX : As new reassessment provisions/procedure/time-limits made applicable w.e.f. 1-4-2021 by FA 2021,reassessment notices issued on or after 1-4-2021 must comply with new procedure/provisions/time-limits. Neither the Finance Act, 2021 nor section 3(1) of the Relaxation Act, 2020 delegate power to the Central Government to defer applicability of new reassessment provisions/procedure enacted by Finance Act, 2021.www.taxmann.com Latest Case LawsRead More
