Reassessment notice for AY 2016-17 issued on 15.04.2024 held invalid by Delhi HC

Sanjay Bansal Vs ITO (Delhi High Court) The Delhi High Court has set aside a reassessment notice issued under Section 148 of the Income Tax Act, 1961, to Sanjay Bansal for the Assessment Year (AY) 2016-17, ruling it to be time-barred. The notice, dated April 15, 2024, was issued following an order under Section 148A(d) of the Act. The court’s decision aligns with its earlier ruling in Manju Somani v. Income Tax Officer Ward-70(1) & Ors (2024:DHC:5411-DB), which addressed similar issues of limitation periods for reassessment notices. A significant precedent cited by the court was the ...