2010 (4) TMI 1151 - HC - Income Tax

Summary

The Delhi High Court dismissed the Revenue's appeal against the Tribunal's order regarding the Assessment Year 1997-98. The Tribunal found that the notice issued under Section 148 of the Income Tax Act was beyond the four-year period, and the assessee had made a full disclosure, making the notice time-barred. The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to set aside the re-assessment proceedings due to limitation. The Tribunal also noted the assessee's withdrawal of cross-objections. The High Court declined to interfere with the Tribunal's order.