Section 148 Notice Beyond 7-Day Grace Period Void: ITAT Delhi Quashes Reassessment

Lombard Portfolio Pvt. Ltd. Vs DCIT (ITAT Delhi) 148 Notice Beyond 7-Day Grace Period Void: ITAT Delhi Quashes Reassessment- Reopening Hit by Limitation – Tribunal Follows SC Ashish Agarwal Ruling to Strike Down 148 Notice- Jurisdictional Defect: ITAT Delhi Quashes ₹62.5 Lakh Addition in Reassessment Lombard Portfolio Pvt. Ltd. filed appeal before Tribunal against NFAC order arising from reassessment framed u/s 147 r.w.s. 144B for AY 2013-14. AO reopened case based on information that Assessee was engaged in providing accommodation entries through shell companies & added ₹62,50,000 a...