Relief to Godrej: Bombay HC quashes Time-Barred Income Tax Reassessment Notice [Read Order]

Bombay HC quashes Issuance of Income Tax Reassessment Notice
Income Tax - Bombay High Court - Income Tax Reassessment Notice - Godrej - taxscan

The Bombay High Court has nullified reassessment notices directed at Godrej due to their issuance beyond the prescribed limitation period, being time-barred in result. Justices K. R. Shriram and Neela Gokhale, on evaluating the notice’s validity, emphasized the necessity to consider the applicable law at the issuance date under Section 148 of the Income Tax…

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