Reassessment Beyond 10-Year Limit Invalid: Gujarat HC Quashes Notice for AY 2012-13

Jignesh Ramniklal Doshi Vs DCIT (Gujarat High Court) The Gujarat High Court examined a writ petition challenging the validity of a reassessment notice issued under Section 148 of the Income Tax Act 1961 and the consequent assessment order passed under Sections 147 read with 143(3) for Assessment Year (AY) 2012–13. The petitioner, engaged in real estate and financing, had originally filed a return of income for AY 2012–13 on 28.09.2012 and later revised it on 19.03.2014. The return was accepted under scrutiny assessment by an order dated 12.03.2015. A subsequent reassessment was carried out...