https://www.taxtmi.com/caselaws?id=68769 The Tribunal ruled in favor of the appellant, determining that the reassessment proceedings under s. 148 of the IT Act for the 1997-98 assessment year were time-barred. The notice issued on 16th Nov., 2004, exceeded the statutory limitation period, as no notice could be issued after 31st March, 2004. The Tribunal found that there was no valid direction from the CIT(A) to initiate reassessment for the 1997-98 year, rendering the reassessment order dated 13th March, 2006, legally untenable. Consequently, the assessment order was quashed. en-us Tue, 22 May 2007 00:00:00 +0530 Fri, 19 Jan 2024 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68769 The Tribunal ruled in favor of the appellant, determining that the reassessment proceedings under s. 148 of the IT Act for the 1997-98 assessment year were time-barred. The notice issued on 16th Nov., 2004, exceeded the statutory limitation period, as no notice could be issued after 31st March, 2004. The Tribunal found that there was no valid direction from the CIT(A) to initiate reassessment for the 1997-98 year, rendering the reassessment order dated 13th March, 2006, legally untenable. Consequently, the assessment order was quashed. Case-Laws Income Tax Tue, 22 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68769