TOLA Extension Does Not Waive Mandatory Approval u/s 151 for Reassessment Beyond 3 Years: Delhi HC sets aside Notice against H&M India

Delhi HC voids reassessment notice against HM India - The Delhi High Court has quashed a reassessment notice issued against HM India, ruling that the extension provided by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act (TOLA) due to the COVID-19 pandemic does not waive the mandatory requirement of obtaining approval under Section 151 of the Income Tax Act for reopening cases beyond a period of three years. The court emphasized that the approval process under Section 151 is a crucial procedural safeguard that cannot be bypassed, thus invalidating the reassessment proceedings due to procedural non-compliance.