Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
HC held that the second reopening notice dated 03.10.2008 for AY 2003-04 was wholly without jurisdiction and barred by limitation under Section 153(2) read with Sections 147 and 148 of the Income-tax Act. Once the first reassessment notice issued on 28.03.2007 triggered the statutory nine-month period, the assessment had to be completed by 31.12.2007. Revenue's failure to do so could not be cured by issuing a fresh notice. HC quashed the second notice, declared the reassessment proceedings void ab initio, and held that the assessment for AY 2003-04 had attained finality upon expiry of the statutory deadline.
HC held that the second reopening notice dated 03.10.2008 for AY 2003-04 was wholly without jurisdiction and barred by limitation under Section 153(2) read with Sections 147 and 148 of the Income-tax Act. Once the first reassessment notice issued on 28.03.2007 triggered the statutory nine-month period, the assessment had to be completed by 31.12.2007. Revenue's failure to do so could not be cured by issuing a fresh notice. HC quashed the second notice, declared the reassessment proceedings void ab initio, and held that the assessment for AY 2003-04 had attained finality upon expiry of the statutory deadline.
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