Re-Assessment proceedings initiated beyond period of 4 years from end of relevant AY: ITAT sets aside proceedings u/s 147 of Income Tax Act [Read Order]

ITAT has set aside the reassessment proceedings initiated under Section 147 of the Income Tax Act, when they were commenced beyond the statutory period of four years from the end of the relevant assessment year
ITAT - ITAT Ahmedabad - Reassessment - Reassessment proceedings - Income Tax - Tax news - TAXSCAN

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside the reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961 when they were commenced beyond the statutory period of four years from the end of the relevant assessment year. The counsel for the appellant Saumya Pandey Jain…

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