Reassessment Notice U/s. 148 void even if issued by authorities who rank higher than competent authority

Brief Facts of the Case and Question of Law Brief Facts The brief facts of the case are that for Assessment Year (AY) 2002-03, the assessee had filed its returns in a normal course on 16.10.2002. The assessment was framed under Section 143(1). Based upon information received by the Assessing Officer (AO), a satisfaction note was recorded sometime in early 2009 and a notice was issued in 2009 i.e. four years beyond the end of the assessment year, under proviso to Section 147(1). The re-assessment proceedings were completed on 31.12.2009. The assessee in its appeal urged that the notice under...