https://www.taxtmi.com/caselaws?id=764912 The Delhi HC set aside a reassessment notice issued under Section 153C of the Income Tax Act, finding it barred by limitation. The court held that the satisfaction note prepared by the assessing officer of the petitioner could not be construed as a satisfaction note by the assessing officer of the searched person. Even computing limitation from the approval date of the satisfaction note, the assessment year 2015-16 exceeded the prescribed ten-year period. The court allowed the petition and quashed the impugned notice and subsequent proceedings. en-us Tue, 14 Jan 2025 00:00:00 +0530 Tue, 21 Jan 2025 09:16:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764912 The Delhi HC set aside a reassessment notice issued under Section 153C of the Income Tax Act, finding it barred by limitation. The court held that the satisfaction note prepared by the assessing officer of the petitioner could not be construed as a satisfaction note by the assessing officer of the searched person. Even computing limitation from the approval date of the satisfaction note, the assessment year 2015-16 exceeded the prescribed ten-year period. The court allowed the petition and quashed the impugned notice and subsequent proceedings. Case-Laws Income Tax Tue, 14 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764912