Held that the initiation of reassessment proceedings under section 147 for the assessment year 2011-12 was in excess of jurisdiction and barred by limitation. SLP of Revenue is dismissed..(AY. 2013-14)
ACIT (OSD) v. Durr India (P.) Ltd. (2024) 297 Taxman 58 (SC) Editorial : Durr India (P.) Ltd v. ACIT (2023) 152 taxmann.com 303/ 455 ITR 460 (Mad)(HC)
S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Reassessment is barred by limitation-SLP of Revenue is dismissed. [S. 145, 148 Art. 136]