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2008 (1) TMI 387 - HC - Income TaxPeriod of limitation - section 148 – notice for reassessment – Notice under section 148 of the Act was issued on the assessee on October 11, 1999, and served on the assessee on October 30, 1999 - Finance Act, 2006, a proviso is introduced to section 148 with retrospective effect on October 1, 1991. This proviso was not there when the case was decided by the Tribunal. Held that, by considering the amended provisions of section 148, we are of the opinion that the notice issued under section 143(2) of the Income-tax Act by the Revenue on the assessee was well within time. – Revenue appeal allowed in its favour and against the assessee relying upon the amended provisions of section 148 – Matter remanded to tribunal for decided the remaining issues.
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