Re-assessment u/s. 149 r.w.s 153C beyond period of ten years untenable: Delhi HC

KAD Housing Private Limited Vs DCIT (Delhi High Court) Delhi High Court held that re-assessment proceedings set aside as assessment in respect of the AY 2015-16 falls beyond the period of ten years as stipulated u/s. 149 read with Section 153C of the Income Tax Act. Facts- The petitioner has filed the present petition, inter alia, impugning the notice dated 31.08.2024 issued u/s. 148 of the Income Tax Act, 1961 for reopening the assessment in respect of the assessment year (AY) 2015-16. It is the case of the petitioner that the impugned notice has been issued beyond the period of the limitatio...