Reassessment notice u/s. 148 beyond specified limit is time barred

Advertisement Yogesh Ashok Mundade Vs National Faceless Appeal Centre (NFAC) (ITAT Mumbai) ITAT Mumbai held that reassessment notice under section 148 of the Income Tax Act beyond time limit of six year is barred by limitation and hence liable to be quashed. Accordingly, appeal allowed and notice quashed. Facts- The case of the assessee was reopened by issuing notice u/s 148 of the Act on 29/07/2022 in response to which the assessee filed its return of income on 26/08/2022 declaring total income of Rs.4,93,450/-. The notice issued u/s 148 of the Act is under challenge. Notably, the first no...