Section 149 Amendments Prospective, Invalidates Reopening Beyond Limitation : Delhi HC Quashes Income Tax Notices

The Delhi High Court has quashed Income Tax notices, ruling that Section amendments are prospective and invalidating reopening beyond limitation. This significant decision provides relief to taxpayers, emphasizing that amendments to specific income tax sections generally apply from a future date unless explicitly stated to be retrospective. The court also reinforced that reassessment notices cannot be issued beyond the prescribed limitation periods. This ruling upholds legal certainty, protecting taxpayers from arbitrary or time-barred reopening of assessments based on retrospective application of law.