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Reassessment Quashed for Issuing Section 148 Notice Beyond “Surviving Period”
Case Law Details
- Case Name
- Quasar India Limited Vs Assessment Unit (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Delhi
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Quasar India Limited Vs Assessment Unit (ITAT Delhi)
Delhi ITAT ITAT Sets Aside 148 Notice & Entire Assessment- Quashes Reopening for Crossing Rajeev Bansal “Surviving Period –
Assessee challenged reassessment u/s 147 r.w.s. 144B arising from notice u/s 148 dated 28.07.2022 alleging bogus sales of Rs.1,17,95,000/-. CIT(A)/NFAC had upheld the reopening & addition u/s 68.
In appeal, Assessee primarily contended that the notice u/s 148 was issued beyond the “surviving period” prescribed by Hon’ble Supreme Court in Rajeev Bansal & the Delhi HC judgment in Ram Balram Build...
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