The Madras High Court dismissed AIADMK MLA SP Velumani’s challenge to a Rs 7 crore income-tax assessment and penalty. It upheld proceedings under Sections 153C and 271AAC(1), finding no procedural irregularity or violation of natural justice in the case.
Delhi High Court quashed a Section 148 reassessment notice for AY 2015-16, holding it time-barred beyond statutory limits. The court held post-April 1, 2021 search-based reassessments must follow pre-Finance Act Section 153C timelines, rendering the notice legally unsustainable therefore.
