https://www.taxtmi.com/caselaws?id=795911 Reassessment notices for assessment year 2015-16 issued on or after 1 April 2021 were required to be dropped under the applicable limitation regime, making a notice issued on 12 April 2022 time-barred and without jurisdiction. Reopening without verifying registered property documents and payment schedules also reflected non-application of mind where those records showed that the relevant payments had occurred earlier. Investment in immovable property must be assessed in the year in which payment is made; registration in a later assessment year does not shift the investment to that year. Accordingly, the reassessment and investment addition for assessment year 2015-16 were 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 were required to be dropped under the applicable limitation regime, making a notice issued on 12 April 2022 time-barred and without jurisdiction. Reopening without verifying registered property documents and payment schedules also reflected non-application of mind where those records showed that the relevant payments had occurred earlier. Investment in immovable property must be assessed in the year in which payment is made; registration in a later assessment year does not shift the investment to that year. Accordingly, the reassessment and investment addition for assessment year 2015-16 were unsustainable. Case-Laws Income Tax Thu, 09 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795911