ITAT Delhi quashes reassessment for lack of valid sanction under Section 151

Advertisement Ankita Lokesh Goyal Vs ITO (ITAT Delhi) Income Tax Appellate Tribunal (ITAT) Delhi has invalidated a reassessment order for Assessment Year 2016-17 in the case of Ankita Lokesh Goyal vs. ITO. The Tribunal ruled that the reassessment proceedings were void ab initio because the Assessing Officer (AO) obtained sanction from the Principal Commissioner of Income Tax instead of the statutorily required Principal Chief Commissioner of Income Tax, as mandated by Section 151 of the Income Tax Act, 1961. This decision highlights the critical importance of adhering to procedural require...