Bombay HC Quashes Reassessment for Invalid Section 151 Approval

Anil Gupta Pvt. Family Trust Vs ITO (Bombay High Court) Specified authority for reassessment sanction – TOLA extension – Scope of Section 151 – Jurisdiction under Section 148 The Bombay High Court quashed reassessment proceedings for AY 2016–17 on the ground of lack of valid jurisdiction due to improper sanction under Section 151 of the Income Tax Act, 1961. The Assessing Officer had issued an order under Section 148A(d) and a notice under Section 148 on 30.07.2022 after obtaining approval from the Principal Commissioner of Income Tax. However, since more than three years h...