Case Law Analysis
|Income Tax Appellate Tribunal
Section 153C IT Act | Reassessment Barred if Deemed Search Date Is on or After 01.04.2021: ITAT Delhi
The ITAT Delhi has ruled that reassessments under Section 153C cannot proceed if the deemed date of search falls on or after April 1, 2021, due to the Finance Act 2021 amendment that eliminated the power to initiate such proceedings beyond that date. This decision protects taxpayers from retrospective application of reassessment powers and clarifies the temporal limits of search-related assessments under the Income Tax Act.