ITAT Chennai Quashes Reassessment – Notice U/s 148 Invalid for Want of Approval from Correct Authority U/s 15

Govindan Gnanavel Vs ITO (ITAT Chennai) ITAT Chennai Quashes Reassessment – Notice u/s 148 Invalid for Want of Approval from Correct Authority u/s 15 The assessee had not filed a return of income and the AO noticed cash deposits of ₹6.64 crore in the bank account. Based on this information, reassessment proceedings were initiated by issuing notice u/s 148A(b) followed by an order u/s 148A(d) and notice u/s 148. The AO completed reassessment u/s 147 r.w.s. 144B and made an addition of ₹6.64 crore u/s 69A as unexplained money. The CIT(A) confirmed the addition. Before the ITAT, the assesse...