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ITAT Rules 148 Notice Void Due to Wrong Authority’s Approval in Reopening After 4 Years
Case Law Details
- Case Name
- DCIT Vs Swati Menthol & Allied Chemicals Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Delhi
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DCIT Vs Swati Menthol & Allied Chemicals Ltd. (ITAT Delhi)
Reopening After 4 Years Invalid Without PCIT Sanction: ITAT Delhi Quashes 148 Notice Against Swati Menthol & Dismisses Revenue Appeal
Assessee, Swati Menthol & Allied Chemicals Ltd., engaged in manufacturing & sale of menthol products, originally filed return for AY 2015-16 declaring income of ₹9.76 crore (normal) & ₹17.04 crore (MAT). Assessment was reopened on 30.03.2021 based on I&CI Wing’s input regarding share capital & share premium of ₹3.01 crore received during the year. Notice u/s 148 was is...
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