Delhi HC Quashes Reassessment as Section 148 Notice Was Time-Barred

Supreme Build-Cap Pvt. Ltd Vs ACIT (Delhi High Court) The Delhi High Court allowed the writ petition challenging the reassessment proceedings and the consequential assessment order for Assessment Year (AY) 2016-17, holding that the notice issued under Section 148 of the Income Tax Act, 1961 was barred by limitation and, therefore, without jurisdiction. The petitioner challenged the assessment order dated 29.03.2026 on several grounds, primarily contending that the reassessment proceedings initiated through the notice dated 30.08.2024 under Section 148 were time-barred. According to the petitio...