Reassessment Timelines And The Validity Of Notices Under The Income Tax Act, 1961 : A Critical Analysis

Introduction : The authority of income-tax officials to revisit a finalised assessment is among the most debated aspects of Indian direct tax governance. It lies at the crossroads of two conflicting public interests: the government's rightful desire to tax income that has not been assessed, and the taxpayer's equally valid desire for the finality and certainty of resolved cases. This tension is addressed in law through a framework of limitation periods and procedural protections outlined in...