https://www.taxtmi.com/caselaws?id=759037 Delhi HC quashed Section 148 notices for reassessment of AYs 2012-13 and 2013-14. Following a search operation on a third party in February 2022, notices were served in March 2023. The court held that reassessment proceedings for AYs prior to April 2021 must comply with pre-Finance Act 2021 timeframes under Sections 149(1)(b), 153A, or 153C. The impugned assessment years fell beyond the permissible ten-year block period under Section 153C read with Section 153A, making the notices time-barred and unsustainable. Assessee's writ petitions were allowed. en-us Tue, 17 Sep 2024 00:00:00 +0530 Mon, 23 Sep 2024 09:10:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759037 Delhi HC quashed Section 148 notices for reassessment of AYs 2012-13 and 2013-14. Following a search operation on a third party in February 2022, notices were served in March 2023. The court held that reassessment proceedings for AYs prior to April 2021 must comply with pre-Finance Act 2021 timeframes under Sections 149(1)(b), 153A, or 153C. The impugned assessment years fell beyond the permissible ten-year block period under Section 153C read with Section 153A, making the notices time-barred and unsustainable. Assessee's writ petitions were allowed. Case-Laws Income Tax Tue, 17 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759037