https://www.taxtmi.com/caselaws?id=459275 The Court recognized the petitioner's strong prima facie case regarding the time-barred nature of the re-assessment proceedings initiated under Section 148 of the Income Tax Act, 1961. Despite the respondent's argument that the notice was within the limitation period due to material evidence found during a search operation, the Court ordered that no final decision on the reassessment be made without its permission. The proceedings may continue, but the respondents were granted time to file a reply, and the case was scheduled for final disposal, reflecting the Court's cautious approach in balancing jurisdictional and evidentiary considerations. en-us Tue, 19 Mar 2024 00:00:00 +0530 Fri, 06 Dec 2024 18:57:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459275 The Court recognized the petitioner's strong prima facie case regarding the time-barred nature of the re-assessment proceedings initiated under Section 148 of the Income Tax Act, 1961. Despite the respondent's argument that the notice was within the limitation period due to material evidence found during a search operation, the Court ordered that no final decision on the reassessment be made without its permission. The proceedings may continue, but the respondents were granted time to file a reply, and the case was scheduled for final disposal, reflecting the Court's cautious approach in balancing jurisdictional and evidentiary considerations. Case-Laws Income Tax Tue, 19 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459275