Big win for taxman: SC favours tax department in case that will impact fate of 90,000 income tax notices
- Posted on October 3, 2024
- By Business News Today
- 1 Views
Big win for taxman: SC favours tax department in case that will impact fate of 90,000 income tax notices
The Supreme Court has ruled in favor of the tax department, stating that after April 1, 2021, the Income Tax Act must be read with its new provisions. This decision affects 90,000 notices of reassessment issued during the pandemic when both old and new laws overlapped, causing widespread disputes and legal actions.
