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Section 148 Notice Issued After 31.03.2022 Held Invalid: ITAT Visakhapatnam
Case Law Details
- Case Name
- Vaka Ghanta Nageswararao Vs ITO (ITAT Visakhapatnam)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Visakhapatnam
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Vaka Ghanta Nageswararao Vs ITO (ITAT Visakhapatnam)
The Income Tax Appellate Tribunal (ITAT), Visakhapatnam, in Vaka Ghanta Nageswararao vs ITO, quashed reassessment proceedings for Assessment Year (AY) 2015-16 on the ground that the notice issued under Section 148 of the Income Tax Act, 1961, was time-barred and void ab initio.
The assessee, an individual, had not filed a return of income for AY 2015-16. Based on information regarding cash deposits of ₹80.01 lakh and time deposits of ₹20 lakh in FY 2014-15, the Assessing Officer (AO) initiated proceedings under Section 148A(b), seeking a...
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