Reassessment notice u/s. 148 being barred by limitation is liable to be quashed: ITAT Mumbai

ITO Vs Pushpak Realities Pvt. Ltd. (ITAT Mumbai)

ITAT Mumbai held that reassessment notice issued under section 148 of the Income Tax Act being barred by limitation under the new provisions of section 149(1) of the Income Tax Act is liable to be quashed and set aside.

Facts- The present appeal is preferred by the revenue challenging quashing of the notice u/s. 148 of the Income Tax Act. Revenue has mainly contested that CIT (A) has quashed the notices on the ground that it is barred by limitation. The main contention of the revenue is that the notices issued

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