https://www.taxtmi.com/caselaws?id=265729 A reassessment under the Gift Tax Act was held time-barred where the earlier assessment had been set aside for fresh assessment, but the competent authority failed to complete the new assessment within the period prescribed under section 16A(3). The Tribunal noted that the statutory limit expired on 31-03-2004, while the reassessment order was passed on 31-03-2006, and that the authority had not proceeded de novo as directed. On those facts, the reassessment was invalid and void, and the assessee succeeded. en-us Fri, 04 Sep 2015 00:00:00 +0530 Thu, 15 Oct 2015 06:21:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265729 A reassessment under the Gift Tax Act was held time-barred where the earlier assessment had been set aside for fresh assessment, but the competent authority failed to complete the new assessment within the period prescribed under section 16A(3). The Tribunal noted that the statutory limit expired on 31-03-2004, while the reassessment order was passed on 31-03-2006, and that the authority had not proceeded de novo as directed. On those facts, the reassessment was invalid and void, and the assessee succeeded. Case-Laws Income Tax Fri, 04 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265729