https://www.taxtmi.com/caselaws?id=795911 Reassessment notices for assessment year 2015-16 issued on or after 1 April 2021 are described as time-barred under the applicable limitation regime, making a notice issued on 12 April 2022 jurisdictionally defective. The notes further identify non-application of mind where registered property documents and payment schedules showed that the relevant payments had been made in an earlier year. Investment in immovable property is stated to be assessable in the year of payment: loan and balance consideration paid in financial year 2013-14 could not be added for assessment year 2015-16 merely because registration occurred then. The reassessment and investment addition are described as unsustainable. en-us Thu, 09 Apr 2026 00:00:00 +0530 Wed, 29 Jul 2026 08:21:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795911 Reassessment notices for assessment year 2015-16 issued on or after 1 April 2021 are described as time-barred under the applicable limitation regime, making a notice issued on 12 April 2022 jurisdictionally defective. The notes further identify non-application of mind where registered property documents and payment schedules showed that the relevant payments had been made in an earlier year. Investment in immovable property is stated to be assessable in the year of payment: loan and balance consideration paid in financial year 2013-14 could not be added for assessment year 2015-16 merely because registration occurred then. The reassessment and investment addition are described as unsustainable. Case-Laws Income Tax Thu, 09 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795911