Delay in issuing Section 143(2) Notice Renders Reassessment Invalid: Delhi HC

Indus Towers Limited Vs DCIT (Delhi High Court) Delhi High Court has ruled in favor of Indus Towers Limited (ITL) by quashing a reassessment notice issued by the Deputy Commissioner of Income Tax (DCIT) under Section 148 of the Income Tax Act, 1961. The case pertained to the Assessment Year (AY) 2009-10 and involved a series of corporate restructurings, including a demerger and a subsequent merger. The court held that the reassessment proceedings suffered from procedural lapses, including the failure to issue a statutory notice under Section 143(2) within the prescribed time limit. ITL, former...