Recently, the Supreme Court has upheld the validity of section 148 notices issued under old provisions and asked Assessing Officers to proceed with the reassessment following new provisions. To implement the judgment of the Supreme Court in a uniform manner, the Central Board of Direct Taxes (CBDT) has issued instructions that shall be required to be taken into consideration by AOs.Recently, the Supreme Court has upheld the validity of section 148 notices issued under old provisions and asked Assessing Officers to proceed with the reassessment following new provisions. To implement the judgment of the Supreme Court in a uniform manner, the Central Board of Direct Taxes (CBDT) has issued instructions that shall be required to be taken into consideration by AOs.taxmann.com Latest Statutory HappeningsRead More
