https://www.taxtmi.com/caselaws?id=16134 The Court quashed the notice issued under s. 148 of the IT Act for reopening assessment for the asst. yr. 1987-88. The petitioner successfully challenged the assumption of jurisdiction under s. 148 r/w s. 147, arguing that all material facts were disclosed during the assessment proceedings, rendering the initiation of proceedings beyond the limitation period unauthorized. Despite allegations of collusion and inflated land prices, the Court held that the notice issued after the limitation period was beyond the AO's jurisdiction, leading to the quashing of the notice and related proceedings, with no order as to costs. en-us Thu, 08 Apr 1999 00:00:00 +0530 Tue, 01 Sep 2009 13:12:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16134 The Court quashed the notice issued under s. 148 of the IT Act for reopening assessment for the asst. yr. 1987-88. The petitioner successfully challenged the assumption of jurisdiction under s. 148 r/w s. 147, arguing that all material facts were disclosed during the assessment proceedings, rendering the initiation of proceedings beyond the limitation period unauthorized. Despite allegations of collusion and inflated land prices, the Court held that the notice issued after the limitation period was beyond the AO's jurisdiction, leading to the quashing of the notice and related proceedings, with no order as to costs. Case-Laws Income Tax Thu, 08 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16134