No Second Innings for Revenue – Reassessment Beyond Limitation Void ab initio

AP Goyal Charitable Trust Vs ITO (ITAT Delhi) No Second Innings for Revenue -Reassessment Beyond Limitation Void ab initio – ITAT Strikes Down Late 148 Notice -Tribunal Follows SC in Rajeev Bansal Delhi Tribunal allowed the appeal of the Trust by holding that the reopening notice issued u/s 148 on 30.08.2022 was barred by limitation as per the timelines clarified by the Hon’ble Supreme Court in Ashish Agarwal & Rajeev Bansal. Assessee is a public charitable trust registered u/s 12AA since 2004, engaged in educational & charitable activities filed return for AY 2014-15 declaring nil...