Delhi HC Quashes Reassessment Notice as It Was Issued Beyond Extended Limitation Period

Shailendra Nath Rai Vs ACIT (Delhi High Court) The petitioner challenged an order dated 30.04.2024 passed under Section 148A(d) of the Income Tax Act, 1961, and the consequential notice issued under Section 148 on the same date, contending that the reassessment proceedings were barred by limitation. The petitioner submitted that the first notice under Section 148A(b) was issued on 29.03.2024 granting time until 08.04.2024 to file a reply. According to the petitioner, the outer limitation for issuance of notice under Section 148 for Assessment Year 2017-18 was 31.03.2024 under the first proviso...