https://www.taxtmi.com/caselaws?id=763069 The Delhi HC held that a notice issued under Section 148 was time-barred as it exceeded the limitation period prescribed under Section 149(1) of the Income Tax Act. The Revenue's contention that the notice was within time due to the non-obstante clause under Section 150 was rejected. The court clarified that the HC's earlier decision dismissing the Revenue's appeal could not be construed as containing findings and directions permitting reopening assessments beyond the statutory time limit. The Revenue's reliance on the Abhisar Buildwell SC decision was misplaced, as it did not permit reopening assessments beyond prescribed periods. en-us Tue, 03 Dec 2024 00:00:00 +0530 Wed, 11 Dec 2024 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763069 The Delhi HC held that a notice issued under Section 148 was time-barred as it exceeded the limitation period prescribed under Section 149(1) of the Income Tax Act. The Revenue's contention that the notice was within time due to the non-obstante clause under Section 150 was rejected. The court clarified that the HC's earlier decision dismissing the Revenue's appeal could not be construed as containing findings and directions permitting reopening assessments beyond the statutory time limit. The Revenue's reliance on the Abhisar Buildwell SC decision was misplaced, as it did not permit reopening assessments beyond prescribed periods. Case-Laws Income Tax Tue, 03 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763069