Reassessment Quashed for Wrong Approval Under Section 151 – ITAT Holds Sanction by PCIT Instead of PCCIT is Fatal

Premlata Bisht Bhandari Vs ITO (ITAT Pune) Reassessment Quashed for Wrong Approval Under Section 151 – ITAT Holds Sanction by PCIT Instead of PCCIT is Fatal The Pune ITAT quashed the entire reassessment proceedings, holding that a notice issued under section 148 beyond three years from the end of the relevant assessment year is invalid if the mandatory approval is obtained from the wrong authority under section 151. The assessee had not filed a return for AY 2016-17. Based on information allegedly emerging from material seized during a search in the case of Bhagvati Developers, the Asses...