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ITAT Mumbai Quashes Time-Barred 148 Notices, Deletes ₹13 Cr Additions; Third-Party Search Cannot Trigger Section 147
Case Law Details
- Case Name
- Jagdish Raghunathji Lahoti Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
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Jagdish Raghunathji Lahoti Vs ACIT (ITAT Mumbai)
Time-Barred Notice Dooms Reassessment: ITAT Mumbai Quashes 148 Action- Third-Party Search Can’t Trigger 147: Tribunal Deletes Additions of ₹13 Cr
ITAT Mumbai quashed reassessment notices issued u/s 148, holding them to be time barred in the light of the decision of the Hon’ble Supreme Court in UOI v. Rajeev Bansal [2024] 167 taxmann.com 70 (SC).
The case arose from information unearthed during a search in the premises of Shree Renuka Mata Multi State Urban Co-operative Credit Society Ltd., which revealed substantial cash deposits in the na...
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