Summary
- The ITAT Mumbai has quashed a reassessment order against Growmore Research & Assets Management Ltd. due to an invalid Section 148 notice that required filing a return "within 30 days," violating statutory provisions.
- The Tribunal emphasized that the notice did not comply with the requirement of allowing "not being less than thirty days" as per the law at the time.
- It ruled that subsequent retrospective amendments could not validate an already completed reassessment based on such a defective notice.
- This decision reinforces legal precedents regarding the invalidity of notices and may impact similar cases involving reassessment procedures.
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