Disclosure of Sale of Agricultural Land in Return of Income during Scrutiny Assessment: Madras HC quashes Reassessment initiated beyond 4 Years [Read Order]

On disclosure of sale of agricultural land in the return of income during scrutiny assessment and thereby quashed reassessment initiated beyond 4 years

By Kalyani B. Nair - On December 4, 2023 9:30 pm - 2 mins read

Sale of Agricultural Land - Scrutiny Assessment - Return of Income - Reassessment - High Court - taxscan

The Madras High Court quashed reassessment initiated beyond 4 years on the disclosure of sale of agricultural land in the return of income during scrutiny assessment. The case of the petitioner, Mr.S.Uttam Chand, was that the present notice issued under Section 147 of the Income Tax Act was beyond the period of four years stipulated…

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