Reassessment notice u/s. 148 quashed as issued after expiry of limitation period prescribed u/s. 149

Independent And Public Spirited Media Foundation Vs ACIT (Karnataka High Court) Karnataka High Court held that issuance of reassessment notice under section 148 of the Income Tax Act after expiry of statutory period of limitation as prescribed under section 149 of the Income Tax Act is liable to be quashed. Accordingly, petition allowed. Facts- On 09.10.2017, the petitioner – Trust furnishes various documents in the course of a scrutiny assessment proceeding including the financial statements showing the application expenditure inter alia. Later, on 08.11.2017, return of income was filed...