Taxpayers have got big relief from Delhi High Court. This news from Delhi High Court has brought a wave of happiness among those taxpayers who are receiving notices from Income Tax. Actually, according to the decision of Delhi High Court, now Income Tax can never investigate your horoscope like this. According to the court, Income Tax can investigate 10 year old cases only when the income of the taxpayer is Rs 50 lakh or more.
At the same time, in case of income less than Rs 50 lakh, the permission to re-open the case is only 3 years. Income tax cannot investigate such cases after 3 years.
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What is the matter?
Till now the Income Tax Department used to open old cases and send notices to people. In such a situation, this is a relief news for those who used to get notices from the Income Tax Department. But now, Income Tax can investigate the old cases of such taxpayers only if the annual income of the taxpayer is more than Rs 50 lakh. The IT department can also investigate their ten year old cases on the same condition.
Delhi High Court's decision
Delhi High Court has given its verdict under Section 148 keeping in mind the time limit for sending the notice by the Income Tax Department. So that he can issue notice for reopening of cases within time.
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