https://www.taxtmi.com/caselaws?id=765698 The Bombay HC dismissed a writ petition challenging reassessment proceedings initiated beyond four years. The petitioner argued TOLA provisions applied and raised issues regarding Section 54F deduction restrictions and untaxed rental income. The HC held that objections not raised before the assessing officer cannot be raised for the first time in writ proceedings. The court found the petitioner participated in reassessment without timely objections and failed to demonstrate issues were examined during original assessment. The HC declined to exercise extraordinary jurisdiction under Article 226, directing the petitioner to file appeal within four weeks with interim relief granted for that period. en-us Wed, 05 Feb 2025 00:00:00 +0530 Fri, 07 Feb 2025 08:38:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765698 The Bombay HC dismissed a writ petition challenging reassessment proceedings initiated beyond four years. The petitioner argued TOLA provisions applied and raised issues regarding Section 54F deduction restrictions and untaxed rental income. The HC held that objections not raised before the assessing officer cannot be raised for the first time in writ proceedings. The court found the petitioner participated in reassessment without timely objections and failed to demonstrate issues were examined during original assessment. The HC declined to exercise extraordinary jurisdiction under Article 226, directing the petitioner to file appeal within four weeks with interim relief granted for that period. Case-Laws Income Tax Wed, 05 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765698