Reassessment Quashed for Wrong Approval Under Section 151

ITO Vs Santosh Jaynarayan Sharma (ITAT Pune) Reassessment Quashed for Want of Proper Approval under Section 151: ITAT Pune The Pune Bench of the Income Tax Appellate Tribunal (ITAT) disposed of the Revenue’s appeal and the assessee’s cross-objection for AY 2017-18, holding that the reassessment proceedings were void ab initio due to invalid sanction under section 151 of the Income-tax Act. In the present case, the Assessing Officer issued notice under section 148 on 26.07.2022, i.e. after expiry of three years from the end of AY 2017-18, where the alleged escapement of income was below ₹...