ITAT Quashes Time-Barred Reassessment in HSBC Geneva Account Case

ITAT Mumbai Allows Appeal, Quashes Reassessment Order Against Legal Heir in Dilip Dalpatlal Mehta Case Due to Expiry of Limitation Period In a significant ruling concerning the procedural aspects and time limitations governing income tax reassessment proceedings, the Income Tax Appellate Tribunal (ITAT), Mumbai, has allowed the appeal filed by Kalpana Dilip Mehta, the legal heir of the late Dilip Dalpatlal Mehta, against the order dated January 7, 2025, passed by the Commissioner of Income-tax (Appeals) – 51, Mumbai, for the assessment year 2007-08. The central contention of the appeal revol...