Delhi HC Quashes Reassessment Notice as It Was Issued Beyond Ten-Year Limitation

H.M. Infracon Private Limited Vs ITO (Delhi High Court) The petitioner challenged a notice dated 31.03.2024 issued under Section 148 of the Income Tax Act, 1961 for Assessment Year 2013-14. The petitioner contended that the notice was issued beyond the limitation period prescribed under Section 149 read with Section 153A of the Act as applicable to the relevant assessment year. It was further argued that the issue was covered by the Delhi High Court’s decision in Principal Commissioner of Income Tax-1 (Central-1) v. Ojjus Medicare Pvt. Ltd. The Revenue could not dispute the factual position...