Gujarat HC Quashed Reassessment Notice Issued Beyond 10-Year Limitation Period

Vinod Bhai Babubhai Pate Lhuf Vs ITO (Gujarat High Court) The Gujarat High Court allowed the writ petition and quashed a reassessment notice issued under Section 148 of the Income Tax Act, 1961 for Assessment Year 2015–16, holding that it was beyond the permissible limitation period. The petitioner had originally filed a return declaring income of ₹2,11,620/-. Subsequently, a search conducted on May 9, 2024 led to discovery of documents indicating alleged unaccounted cash consideration relating to immovable property. Based on this material, the department issued a notice dated March 31, 20...