₹50 lakh income-tax case: ITAT quashes reassessment after tax department issued notice beyond the legal deadline

The Income Tax Appellate Tribunal (ITAT) in Surat has quashed reassessment proceedings involving a ₹50 lakh income disclosure after finding that the tax department's section 148 notice was issued beyond the legal deadline. The case also involved a bank error that delayed part of the taxpayer's tax payment.