Reassessment Notice for AY 2015-16 Quashed as Time-Barred Due to Post-1st April 2021 Issuance

Mitra Biswas Vs ITO (Bombay High Court) The writ petition challenged the validity of a notice dated 14 April 2022 issued under Section 148 of the Income Tax Act, 1961, along with the consequential assessment order dated 19 February 2024 and subsequent recovery notices for Assessment Year (A.Y.) 2015–16. The case originated from a show cause notice issued under Section 148A(b) on 28 March 2022, alleging that income chargeable to tax had escaped assessment in relation to an immovable property acquired by the petitioner. The petitioner contended that she was unaware of these proceedings and the...