Wednesday 28 October 2015

Reassessment notice couldn't be issued after 6 years if assessee doesn't have any asset outside Indi

IT : SLP dismissed against High Court's ruling that where assessee did not have any asset outside India and there was no question of having any income in relation to such an asset, notice issued under section 148 after expiry of six years from end of relevant year relying upon provisions of section 149(1)(c) was not sustainable

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