ITAT Quashes Reassessment for Non-Compliance with GKN Drive Shaft Judgment

Amit Kumar Banthia (HUF) Vs DCIT (ITAT Bangalore) Reassessment proceedings quashed due to non-compliance with GKN Drive Shaft procedure: Bang ITAT Assessee  filed its return of income declaring total income of Rs. 11,167/- &  claiming Rs19,38,938  as   exempt u/s 10(38).  Assessee filed its return of income in response  u/s 148  &   called for the copy of reasons recorded. AO provided the reasons recorded on 4.2.2022 & against these reasons, assessee filed its objections on  1.3.2022 objecting  to the re-assessment proceedings. AO completed the assessment & made the...