Case Law Analysis
|Income Tax Appellate Tribunal
Section 148 IT Act | Reassessment Notice Void If Limitation Period Excludes Stay & Response Time : ITAT Mumbai
ITAT Mumbai rules that reassessment notices under Section 148 of the Income Tax Act must exclude periods of stay and assessee response time when computing limitation. The tribunal quashed a notice issued beyond the prescribed period, reinforcing the Supreme Court's precedent in Rajeev Bansal, ensuring procedural fairness in tax reassessment proceedings.