https://www.taxtmi.com/caselaws?id=461595 ITAT Delhi held that reassessment notice u/s 148 issued after four years was invalid. Revenue authorities issued notice on 18.03.2013 for AY 2006-07 based on audit objections regarding depreciation and stores written off. The tribunal found these issues were already part of original assessment records completed u/s 143(3) on 26.11.2007. Since assessee had fully disclosed all material facts and no new information emerged, the extended limitation period was not applicable. The notice should have been issued before 31.03.2011 to be valid. Entire reassessment was quashed and assessee's appeal allowed. en-us Fri, 24 May 2024 00:00:00 +0530 Tue, 15 Apr 2025 08:34:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461595 ITAT Delhi held that reassessment notice u/s 148 issued after four years was invalid. Revenue authorities issued notice on 18.03.2013 for AY 2006-07 based on audit objections regarding depreciation and stores written off. The tribunal found these issues were already part of original assessment records completed u/s 143(3) on 26.11.2007. Since assessee had fully disclosed all material facts and no new information emerged, the extended limitation period was not applicable. The notice should have been issued before 31.03.2011 to be valid. Entire reassessment was quashed and assessee's appeal allowed. Case-Laws Income Tax Fri, 24 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461595