ITAT Jaipur Quashes Reassessment as Notice u/s 148A(d) Issued Beyond Limitation

Sanskriti Build-Dev Private Limited Vs ITO (ITAT Jaipur) Reassessment Dies at Birth – Notice Beyond 26.06.2022 -Notice Bey ond Surviving Period Under TOLA Held Invalid Background Issue: Validity of reassessment proceedings initiated u/s 148. AO: Issued notice u/s 148 on 23.06.2021 (old regime). Later, order u/s 148A(d) passed on 27.07.2022, confirming escaped income. CIT(A): Confirmed AO’s action on 29.01.2025. Assessee’s Arguments Notice dated 27.07.2022 u/s 148A(d) was time-barred, relying on SC ruling in Union of India & Ors. Vs. Rajeev Bansal (2024) 167 Taxman 70. As per SC, A...