2007 (7) TMI 577 - HC - Income Tax

Summary

The Delhi High Court considered whether a notice issued under section 142(1) of the Income-tax Act, 1961 served on the assessee beyond one year from the end of the relevant previous year is barred by limitation. A proviso to section 142(1)(i) with retrospective effect from 1-4-1990 was noted, leading to the conclusion that the notice was not barred by limitation. The matter was directed to be heard on merits by the Income-tax Appellate Tribunal. The parties were scheduled to appear before the Tribunal on 6-8-2007 for further directions. The reference was disposed of accordingly.