Rajasthan HC directs AO to follow SC’s Rajeev Bansal ruling on time-barred AY 2015-16 tax notices

Shreyansh Mehta S/o Shri Shanti Lal Mehta Vs ITO (Rajasthan High Court) The Rajasthan High Court has directed the Income Tax Officer (ITO) to consider the Supreme Court’s ruling in Union of India & Ors. v. Rajeev Bansal (2024) 469 ITR 46 while proceeding with a case involving Shreyansh Mehta. Mehta’s counsel argued that the limitation period for Assessment Year 2015-16 had expired. He highlighted that in the Rajeev Bansal case, the Union of India conceded to dropping proceedings for AY 2015-16 when the limitation period had elapsed. Mehta’s notice under Section 148 of the...