Supreme Court backs validity of 90,000 past income tax reassessment notices

The Supreme Court upheld the validity of around 90,000 past income tax reassessment notices issued to individuals and businesses after April 1, 2021. These notices were issued by the revenue department for assessment years 2013-14 to 2017-18, under the old system. The ruling will impact taxpayers as these notices, sent during COVID-19 period, can now be pursued by the department.