[Income Tax Act] Reassessment Notices issued under Section 148 after 2021 amendment will be deemed to be issued under Section 148A: Supreme Court

The top court held that Section 148A of the Act is a new provision and a game changer with an aim to achieve the ultimate object of simplifying the tax administration, ease compliance and reduce litigation.
Income Tax Department
Income Tax Department

The Supreme Court on Wednesday held that notices issued to assessees under Section 148 of the Income Tax Act of 1961 shall be deemed to be issued under Section 148A of the newly-amended Act as was substituted by the 2021 Finance Act [Union of India v. Ashish Agarwal and ors.].

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