Case Law Analysis
|Income Tax Appellate Tribunal
Section 148 Income Tax Act | Reassessment Notices Issued Beyond TOLA Limitation Period Void: ITAT Agra Quashes Rs. 23 Crore Additions
ITAT Agra rules reassessment notices under Section 148 of the Income Tax Act issued after 30.06.2021 are time-barred under the Taxation and Other Laws Act (TOLA), invalidating additions exceeding Rs. 23 crore. The judgment reinforces strict adherence to limitation periods, impacting taxpayers facing delayed reassessment proceedings.