Re-assessment notice issued U/s 148 being barred by limitation under the new provisions of section 149(1) is liable to be quashed and set aside.

Re-assessment notice issued U/s 148 being barred by limitation under the new provisions of section 149(1) is liable to be quashed and set aside.   The “C” Bench of Mumbai ITAT in ITO v. Pushpak Realities Pvt. Ltd.( ITA No. 4812/Mum/2024; Date of Judgment: 07/11/2024; AY: 2015-16) [Mum ITAT] held that reassessment notice issued under…

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