Reassessment Notice Beyond 10 Years Limit: Delhi HC Quashes Notice u/s 149 of Income Tax Act

The Delhi High Court quashed a reassessment notice issued beyond the 10-year limit under Section 149 of the Income Tax Act. The court held that the notice was time-barred as per the statutory provisions. This decision provides significant relief to taxpayers facing reassessment proceedings initiated after the permissible time frame. It reinforces the importance of adhering to the limitation periods prescribed under the Income Tax Act. The ruling protects taxpayers from prolonged uncertainty and potential harassment due to delayed reassessment notices.