Summary
- The Madras High Court has quashed reassessment notices for Assessment Year 2015-16 issued after 1 April 2021.
- The court ruled these notices as time-barred under the Rajeev Bansal case precedent.
- This decision underscores the importance of adhering to statutory timelines in tax assessments.
- Taxpayers may find relief as this ruling could impact similar reassessment cases moving forward.
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