https://www.taxtmi.com/caselaws?id=759588 The HC quashed the notice issued under Section 148 of the Income Tax Act, 1961, for the Assessment Year 2015-16, finding the notice against the deceased without jurisdiction. The court determined that the alleged escapement of income was unfounded, as the loan was repaid on the same day, with no unexplained funds. Consequently, the court set aside the notice and any related actions, concluding that the Assessing Officer lacked valid grounds for reassessment. en-us Mon, 23 Sep 2024 00:00:00 +0530 Fri, 04 Oct 2024 08:19:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759588 The HC quashed the notice issued under Section 148 of the Income Tax Act, 1961, for the Assessment Year 2015-16, finding the notice against the deceased without jurisdiction. The court determined that the alleged escapement of income was unfounded, as the loan was repaid on the same day, with no unexplained funds. Consequently, the court set aside the notice and any related actions, concluding that the Assessing Officer lacked valid grounds for reassessment. Case-Laws Income Tax Mon, 23 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759588