Telangana HC Overturns Income Tax Notices, Ensures Compliance with Finance Act 2021

Telangana HC Rejects Income Tax Reassessment Notices for Not Following Finance Act 2021

The Telangana High Court has invalidated the income tax notice and subsequent orders as they were issued without adhering to the revised reassessment procedures outlined in the Finance Act 2021. The income tax department has been found to be in violation of both the Finance Act, 2021, and the directives laid out by the Supreme Court in the Ashish Agarwal case.

The petitioner’s counsel argued that the procedure followed by the respondent-Department was not in line with the provisions of the Finance Act 2021 and the instructions given by the Supreme Court in the Ashish Agarwal case.

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Introduction

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Main Body

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Conclusion

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Concluding Section:

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