https://www.taxtmi.com/caselaws?id=420316 The High Court of Madras dismissed the tax case appeal, affirming that the notice under section 158BD was invalid due to being issued beyond the prescribed time limit of two years. The court emphasized the need for actions to be taken within a reasonable period and rejected the argument that the notice was valid despite the absence of a specific time limit in the statute, citing legal precedents to support the requirement for assessments to be completed within the stipulated timeframe. en-us Mon, 21 Mar 2022 00:00:00 +0530 Thu, 31 Mar 2022 08:23:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420316 The High Court of Madras dismissed the tax case appeal, affirming that the notice under section 158BD was invalid due to being issued beyond the prescribed time limit of two years. The court emphasized the need for actions to be taken within a reasonable period and rejected the argument that the notice was valid despite the absence of a specific time limit in the statute, citing legal precedents to support the requirement for assessments to be completed within the stipulated timeframe. Case-Laws Income Tax Mon, 21 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420316