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Reopening Notice u/s 147 issued within Limitation Period but served after Limitation Period is valid
Case Law Details
- Case Name
- ITO Vs. Lal Chand Agarwal (ITAT Agra)
- Courts
- ITAT Agra
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ITO Vs. Lal Chand Agarwal (ITAT Agra Third Member)
It may be mentioned that Section 34(1) of the 1922 Act specifically provides time limit for service of notice for reassessment proceedings within which the reassessment notice had to be served in order that the initiation would be valid. In that state of law, if a reassessment notice was not served within the period prescribed, the proceedings were invalid. The mere issue of such notice within such period was not enough. It was so held by the Hon’ble Allahabad High Court in the case of Sri Niwas Vs. ITO – (1956) 30 ITR 3...
Unless the notice reaches the assessee within the period of limitation, how can the same be taken as proper service of notice? This decision will lead to more troubles to the assessees.