DCIT, Central Circle-20 vs. KRSKA Capital Pvt. Ltd.
Parties Involved
Facts Summary
The appeal and cross objection were preferred by the assessee and the revenue against the order dated 22.04.2025 of the Ld. CIT(A)-27, New Delhi. The assessee raised a cross objection that the reassessment was liable to be quashed as the notice u/s 148 for AY 2017-18 was issued beyond the surviving time limit. The chronology of events showed that the notice u/s 148 was issued on 29.07.2022 after the 3-year period had lapsed, requiring prior approval from the Principle Chief Commissioner of Income Tax, which was not obtained.…
Decision in favour of
Assessee
Legal Issues
- 1. Validity of notice u/s 148 issued beyond permissible time limit.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
2 precedents cited in this judgement.
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