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of <h1>Bombay High Court Quashes Reassessment Notice for AY 2013-14; Upholds Limitation Defense u/s 149 of IT Act.</h1> The Bombay High Court addressed the validity of reassessment notices for AY 2013-14 under Section 148 of the Income Tax Act, 1961. The petitioner argued that the notice issued on 28th July 2022 was barred by limitation, as the deadline expired on 31st March 2020. The Court rejected the 'travel back in time' theory proposed by the CBDT and upheld the assessee's right to invoke all defenses under Section 149, including the limitation period. The Court ruled that the reassessment notice was issued beyond the permissible time frame, thus quashing it and reinforcing the doctrine of limitation.
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