Only One Surviving Day Left: Mumbai ITAT Quashes Time-Barred Reassessment Notices After Rajeev Bansal Ruling

Shankar Rajaram Neelam Vs ITO (ITAT Mumbai) Only “1 surviving day” left to reopen – Mumbai ITAT quashes reassessment notices issued beyond limitation after Rajeev Bansal ruling In a major ruling on the post-Ashish Agarwal reassessment regime, the Mumbai ITAT quashed reassessment proceedings for AYs 2013-14 and 2014-15 after holding that the notices issued u/s 148 on 25.07.2022 were time-barred and beyond the surviving limitation period prescribed under section 149. The reassessment proceedings were originally triggered on the basis of information received during a third-party search,...