https://www.taxtmi.com/caselaws?id=768174 The HC quashed a reassessment notice issued under Section 148 of Income Tax Act for AY 2015-16, finding it barred by limitation. The notice dated 30.07.2022 was issued beyond the limitation period prescribed in Section 149(1). The court relied on Revenue's concession in Union of India v. Rajeev Bansal that the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA) was inapplicable to AY 2015-16. Consequently, the notice and subsequent proceedings were set aside as time-barred. en-us Mon, 24 Mar 2025 00:00:00 +0530 Sat, 01 Aug 2026 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768174 The HC quashed a reassessment notice issued under Section 148 of Income Tax Act for AY 2015-16, finding it barred by limitation. The notice dated 30.07.2022 was issued beyond the limitation period prescribed in Section 149(1). The court relied on Revenue's concession in Union of India v. Rajeev Bansal that the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA) was inapplicable to AY 2015-16. Consequently, the notice and subsequent proceedings were set aside as time-barred. Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768174