Reassessment Notice Time-Barred Under Section 149, ITAT Quashes Case

Hisar Leading Bank Co-Op Non-Agri Thrift & Credit Society Vs ITO (ITAT Delhi) Reassessment Notice Time-Barred: ITAT Delhi Quashes 148 Proceedings Post Rajeev Bansal Ruling The Delhi Bench ‘E’ of the ITAT, in The Hisar Leading Bank Co-op Non-Agri Thrift & Credit Society v. ITO (AY 2014-15), quashed reassessment proceedings on the ground that the notice issued under section 148 on 27.07.2022 was barred by limitation. The assessee, a co-operative credit society, had not originally filed a return for AY 2014-15. Based on alleged cash deposits of ₹7.68 crore, reassessment proceedings ...