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Delhi High Court Quashes Time-Barred Reassessment Notice Under Section 148 of the Income Tax Act: Rules That the Ten-Year Limitation Period Under Sections 149, 153A, and 153C Must Be Strictly Followed
Court’s Decision The Delhi High Court quashed the reassessment notice issued under Section 148 of the Income Tax Act, 1961, for being time-barred. The Court ruled that the reassessment proceedings…