Delhi HC Quashes Reassessment Notice Beyond 10 Years for AY 2014-15

Janus Infrastructure Projects Private Limited Vs ACIT (Delhi High Court) The Delhi High Court addressed a writ petition filed by Janus Infrastructure Projects Private Limited challenging a reassessment notice dated February 6, 2024, issued under Section 148 of the Income Tax Act, 1961. This notice sought to reassess the petitioner’s income for the Assessment Year 2014-15. The court noted that since the notice was issued after April 1, 2021, the amended reassessment regime applied. Under this regime, particularly the First Proviso to Section 149(1), reassessment for an assessment year pri...