The CBDT has today vide Instruction No 01/2022 dated 11th May, 2022 issued instructions to the Assessing Officers for the issue of notices consequent to Supreme Court judgment dated 4th May, 2022 in the case of Union of India vs Ashish Agarwal.
Vide the above judgment the Supreme Court has adjudicated on the validity of the issue of reassessment notices issues by AOs during the period beginning on 1st April 2021 and ending on 30th June 2021, within the time extended by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020.
The CBDT in the exercise of Section 119 of the IT Act has for purpose of uniform application of Supreme Court judgment has laid down instructions which need to be taken into consideration while implementing the judgement.
For further details please refer to the CBDT instruction as given hereunder:
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