ITAT Quashes Reassessment: Approval from PCIT Instead of PCCIT Renders Section 148 Notice Invalid

Accenture Impex Pvt. Ltd. Vs DCIT (ITAT Delhi) ITAT Quashes Reassessment: Approval from PCIT Instead of PCCIT Renders Section 148 Notice Invalid The Delhi ITAT quashed the reassessment proceedings after holding that the notice issued under Section 148 was invalid for want of approval from the correct sanctioning authority prescribed under Section 151. The case pertained to AY 2016-17, where the reassessment was initiated on the basis of information regarding suspicious banking transactions and alleged involvement in fraudulent export activities. The assessee challenged the reopening on the gro...