The record
Written from the 2 reports below. Nothing here is unsourced.
- The Supreme Court has agreed to urgently hear the Centre's challenge against a Punjab and Haryana High Court ruling that struck down Section 147A of the Income-Tax Act.
- The dispute is over whether regular jurisdictional assessing officers can issue reassessment notices or whether notices must go through the faceless assessment system.
- The Punjab and Haryana High Court struck down Section 147A on 10 September, holding that Parliament could not retrospectively validate a procedure that constitutional courts had already found defective.
- The Centre argues that the high court ruling has created a 'huge vacuum' in the reassessment process affecting several taxpayers.
- The Supreme Court's decision will determine whether reassessment notices issued by regular tax officers remain valid and whether Parliament can give the provision retrospective effect.
What to watch next
- The Supreme Court's hearing of the Centre's plea scheduled for Friday.
- Whether the court examines the constitutional validity and retrospective effect of Section 147A.
- The fate of reassessment notices already issued by jurisdictional assessing officers while the case is pending.
What changed2
Every report on this story, newest first. Times are when each outlet published.
Why it matters4
Who is affected first and what likely follows, with a direction and a horizon. Extracted from the reports, never invented.
- Indian taxpayers subject to reassessment notices assessment proceedings halted· immediate
- Income Tax Department reassessment powers suspended pending appeal· weeks
- Corporate tax litigation posture legal uncertainty prolonged· longer
- Tax advisory and compliance firms client uncertainty on reassessments· weeks
Coverage1
2 reports
English national2
All filed from IndiaSingle origin
Named India · Jyoti Sareen · Central Board of Direct Taxes · JB Pardiwala · K. Vinod Chandran · N. Venkataraman · Parliament of India · Punjab and Haryana High Court · Supreme Court of India · Surya Kant
The 2 reports are listed beside the record.
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