SC overturns HCs, allows Income Tax department to reopen 90,000 cases – Times of India
In a landmark judgment, Supreme Court ruled in favour of the income-tax (I-T) department, upholding the validity of nearly 90,000 reassessment notices issued after April 1, 2021, under the old provisions. Over 9,000 writ petitions had been filed in various high courts challenging these notices, with most courts siding with taxpayers.A bench of Chief Justice…