Delhi HC sets aside Notice u/s 148A(b) of Income Tax Act, citing Bar by Limitation

Delhi High Court set aside a notice issued under Section 148AB of the Income Tax Act, citing the bar by limitation. Section 148AB pertains to conducting inquiries, providing an opportunity, and passing orders before issuing notice under Section 148 for income escaping assessment. The High Court's decision indicates that the tax authorities failed to comply with the prescribed time limits for issuing the notice under Section 148AB, rendering the subsequent notice invalid due to the legal bar of limitation. This ruling emphasizes the importance of adhering to statutory timelines in tax reassessment proceedings.