https://www.taxtmi.com/caselaws?id=13620 The case involved a dispute over the time limit for issuing a notice under section 143(2) of the Income-tax Act for the assessment year 1996-97. The Tribunal held that the notice issued beyond the twelve-month limit rendered the assessment invalid. However, the Finance Act, 2006, introduced a proviso stating that such notices served after the limit shall be deemed valid for returns filed between October 1, 1991, and September 30, 2005. The judgment emphasized the mandatory nature of the time limit for notices post-2005 and remanded the matter for further assessment, setting aside the Tribunal's decision based on limitation. en-us Mon, 26 Feb 2007 00:00:00 +0530 Sat, 30 May 2009 16:48:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13620 The case involved a dispute over the time limit for issuing a notice under section 143(2) of the Income-tax Act for the assessment year 1996-97. The Tribunal held that the notice issued beyond the twelve-month limit rendered the assessment invalid. However, the Finance Act, 2006, introduced a proviso stating that such notices served after the limit shall be deemed valid for returns filed between October 1, 1991, and September 30, 2005. The judgment emphasized the mandatory nature of the time limit for notices post-2005 and remanded the matter for further assessment, setting aside the Tribunal's decision based on limitation. Case-Laws Income Tax Mon, 26 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13620