The Bombay High Court has ruled that the show cause notice issued by the revenue department against Godrej Industries was illegal due to a limitation. The company challenged the notice, which was issued during reassessment proceedings under an earlier notice. The court clarified that the time limit to issue a notice under Section 148 of the Income Tax Act 1961 was six years from the end of the relevant assessment year, which expired on March 2021 for the assessment year 2014-15. Read The Rest at :
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