India: Notice issued under old reassessment regime deemed issued under new reassessment regime (Supreme Court decision)

A Supreme Court decision concerning new reassessment regime

A Supreme Court decision concerning new reassessment regime

The Supreme Court held that a reassessment notice issued after 1 April 2021 under the old reassessment regime, and after such provisions were amended with effect from 1 April 2021, was deemed issued under the new reassessment regime.

The case is: UOI v. Ashish Agarwal.

The Supreme Court modified several High Court decisions which quashed the notices issued under the old reassessment regime, irrespective of whether they had been raised before the Supreme Court or not.

Read a May 2022 report [PDF 333 KB] prepared by the KPMG member firm in India

 

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