Reopenings for AYs 2014-15 & 2015-16 Time-Barred: ITAT Quashes Section 148 Notices

DCIT Vs LT Foods Limited (ITAT Delhi)

Reopenings for AYs 2014-15 & 2015-16 Time-Barred: ITAT Quashes Section 148 Notices Applying Rajeev Bansal Ruling

The Delhi ITAT dismissed the Revenue’s appeals and allowed the assessee’s cross-objections by quashing reassessment proceedings for AYs 2014-15 and 2015-16 as barred by limitation. For AY 2015-16, the Tribunal relied on the Revenue’s own concession before the Supreme Court in Rajee

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