Non-compliance with specified authority’s approval requirements invalidates assessment order

ITO Vs Specie Finance Pvt Ltd And Ors (Calcutta High Court) In the case of ITO Vs Specie Finance Pvt Ltd And Ors, the Calcutta High Court reviewed an intra-Court appeal by the revenue challenging a previous order that quashed an assessment order under Section 148A(d) of the Income Tax Act, 1961. The challenge centered on the lack of approval from the specified authority as required under Section 151(ii). Although there was a significant delay of 325 days in filing the appeal, the court condoned the delay after reviewing the explanation provided. However, the Court found that the issue was simi...