Re-Assessment notice after 4 years without Approval of CIT or CCIT is Invalid: Delhi HC

Commissioner of Income Tax Vs Gee Kay Finance & Leasing Co. Ltd (Delhi High Court) Issue- Whether ITAT was correct in law in holding that the notice issued by the Assessing Officer u/s 148 of the Act beyond the 04 years after the end of relevant assessment year was bad in law as the necessary approval of Chief Commissioner or Commissioner of Income Tax as per the provisions of Section 151 (1) of the Act had not been obtained by the Assessing Officer?” The assessee appealed contending that the issuance of notice under Section 148 of the Act, was without jurisdiction as the concerned Asses...