Reassessment Quashed – Wrong Sanction u/s 151 After 3 Years: ITAT Mumbai

Advertisement DCIT Vs Unify Texturisers Private Limited (ITAT Mumbai) Reassessment quashed – Wrong sanctioning authority u/s 151 after 3 years; entire proceedings held void – ITAT Mumbai In DCIT vs Unify Texturisers Pvt. Ltd. (A.Y. 2017-18), reassessment was initiated under the new regime with multiple additions. The assessee challenged validity of reopening on the ground that sanction u/s 151 was granted by the Principal Commissioner, though more than three years had elapsed from the end of the relevant assessment year. The ITAT examined section 151 and relied on binding Bombay High Co...