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of <h1>Impugned notice quashed as Revenue admits error under Section 148, I.T. Act; backed by SC ruling in Rajeev Bansal.</h1> <h3>M/s Wave Enterprises Lko. Thru. Its Partner Shri Nitin Jain Versus Union Of India Thru. Secy. Ministry Of Finance Deptt. Of Income Tax New Delhi And 2 Others</h3> The HC ruled in favor of the petitioner, quashing the impugned notice and all consequential actions due to the Revenue's acknowledgment of incorrect ... Reopening of assessment - Notice issued time barred - HELD THAT:- Revenue has written instruction from the Department to the effect that the notices u/s 148 have incorrectly been issued and the claim of the petitioner that the same was time barred is correct, therefore, he says that the notice should be set aside as referred to the decision of Rajeev Bansal [2024 (10) TMI 264 - SUPREME COURT (LB)] The written instruction dated 15.1.2025 is taken on record. The petition is allowed. The impugned notice issued under Section 148 quashed. The Allahabad High Court, in a case where the Revenue acknowledged incorrect issuance of notices under Section 148 of the I.T. Act, 1961, ruled in favor of the petitioner, citing the decision of the Supreme Court in Union of India Vs. Rajeev Bansal. The court allowed the petition and quashed the impugned notice and all consequential actions.
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