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Invalid Approval Sinks Reassessment -Wrong Authority, Wrong Notice: ITAT Deletes Additions
Case Law Details
- Case Name
- Star Ceramics Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Bangalore
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Star Ceramics Vs ITO (ITAT Bangalore)
Invalid Approval Sinks Reassessment -Wrong Authority, Wrong Notice – Tribunal Deletes ₹62 Lakh Additions in Reopening Case
Bangalore Tribunal in has quashed the reassessment order & deleted additions of over ₹62 lakh, holding that reopening of assessment was bad in law due to lack of valid sanction u/s 151.
Assessee, a partnership firm engaged in ceramic tiles & allied trade, had filed return of income on presumptive basis u/s 44AD declaring income of ₹1,45,090. Based on a search on Mehta Finance, AO alleged that Assessee h...
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