https://www.taxtmi.com/caselaws?id=796173 A notice for assessment under the Black Money Act is described as time-barred where it was issued beyond the CBDT Guidelines' preferred 30-day period following the relevant previous year. The notes state that information on the undisclosed foreign asset was available to the Department by April 2019, or at least when reopening reasons were recorded in March 2021, while the notice was issued in March 2022. As the delay lacked recorded reasons and approval from the competent authority, the guidelines were treated as binding on the Revenue. The consequential proceedings are described as null and void. en-us Thu, 16 Jul 2026 00:00:00 +0530 Sat, 01 Aug 2026 08:34:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796173 A notice for assessment under the Black Money Act is described as time-barred where it was issued beyond the CBDT Guidelines' preferred 30-day period following the relevant previous year. The notes state that information on the undisclosed foreign asset was available to the Department by April 2019, or at least when reopening reasons were recorded in March 2021, while the notice was issued in March 2022. As the delay lacked recorded reasons and approval from the competent authority, the guidelines were treated as binding on the Revenue. The consequential proceedings are described as null and void. Case-Laws Income Tax Thu, 16 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796173