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Flawed IT reassessment notices quashed

The tax department’s capricious plan to harass taxpayers by extending the validity of a tax provision by 3 months was grounded in the so-called Relaxation Act of 2020 ....

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Income tax portal continues to be bedevilled by glitches

Income tax portal continues to be bedevilled by glitches
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Govt Considering Ordinance To Counter Recent Spate of Income Tax Reassessment Litigations

Govt Considering Ordinance To Counter Recent Spate of Income Tax Reassessment Litigations
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Two sets of laws for issuing notices and reopening assessments leaves I-T assessees bewildered

The applicability of two sets of laws for the same purpose of issuing notices and reopening assessments has left income tax assessees bewildered and tax practitioners peeved.
The procedures related to reassessments or re-computation of income escaping assessment and review of search related cases has undergone a major overhaul. Several sections of the Income Tax Act have been amended with the objective to lower litigation and make it easier for taxpayers.
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The prominent changes include the lowering of the time limit for issuing notices of reassessment from six years from the end of the relevant assessment year to three years. ....

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