taxaaram taxaaram 
Executive Summary: In this Article, the author Shri Mayank Mohanka, FCA has tried to address all crucial yet lesser talked about issues in respect of the substituted new reassessment regime, like what is the meaning of the expression, "Information in possession, as per the Risk Managment Strategy of CBDT", the current litigative trends in the new reassessment regime, present day tendency of circumvention of the reduced limitation period of three years, by the revenue authorities and the Legislative Intent vs. Ground Level Implementation of the substituted provisions of the new reassessment regime.
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The Finance Act 2021, has substituted the old re-assessment regime with a new re-assess.