CBDT issues directions to implement Supreme Court’s decision on revaluation dispute

[ad_1] CBDT, in exercise of the powers under section 119, issued Instruction No. 1 of 2022 for implementation of the judgment of the SC in Ashish Agrawal in respect of revaluation notices issued between 01.04.2021 to 30.06.2021; Explains the scope of the decision and lays down the procedure to be followed by the AO. Some of the salient points of the said directive, inter alia, include the following: Honourable Supreme Court’s decision will be applicable in all cases Where extended revaluation notices have been issued notwithstanding the fact Whether such…