ITAT Chennai Quashes Time-Barred Reassessment Citing SC’s Rajeev Bansal Ruling

Advertisement Smt. Lakshmi Narasimhan Santhi Vs ACIT (ITAT Chennai) In a significant ruling dated 3rd July 2025, the Chennai Bench of the Income Tax Appellate Tribunal (ITAT) allowed the appeal filed by Smt. Lakshmi Narasimhan Santhi against the reassessment order issued under Section 147 of the Income Tax Act for the Assessment Year (AY) 2013–14. The ITAT held that the reassessment notice issued on 28th July 2022 was beyond the permissible time limit laid down by the Supreme Court in Union of India v. Rajeev Bansal (469 ITR 46) and therefore void ab initio. Background and Timeline of Eve...