Reassessment U/s 148 Quashed for ₹2.58L Escapement, Beyond 3 Years & Wrong Sec 151 Sanction – ITAT Mumbai

Dattatray Vithoba Sawant Vs ITO (ITAT Mumbai) Reassessment U/s 148 Quashed Where Escaped Income ₹2.58 Lakh & Notice Issued Beyond 3 Years – Wrong Sanction under Sec.151 – ITAT Mumbai The assessee challenged reassessment proceedings initiated under the new regime where notice u/s 148 dated 06.07.2022 was issued alleging escaped income of ₹2.58 lakh relating to deduction claims and allowance exemptions. The Tribunal first examined the legal grounds since they went to the root of jurisdiction. Relying on the Supreme Court ruling in Union of India v. Rajeev Bansal, ITAT analyse...