Delhi High Court Quashes Time-Barred Assessment Proceedings

Indian Renewable Energy Development Agency Ltd Vs PCIT (Delhi High Court) In a recent ruling, the Delhi High Court addressed a writ petition with substantive prayers seeking relief for the petitioner against the notice dated 19.07.2018 issued by Respondent No.1. The petitioner sought the quashing of the notice aiming to revive time-barred assessment proceedings for the assessment years 1998-99 to 2009-10. The court was urged to declare the pending proceedings as barred by limitation, direct the acceptance of the petitioner’s returned income, and grant a stay on the operation of the impug...