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Time-Barred Section 148 Notice Nullifies 263 Revision: ITAT Mumbai Quashes PCIT’s Order
Case Law Details
- Case Name
- Jignesh Mahesh Gohel Vs DCIT (ITAT Mumbai)
- 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 Mumbai
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Jignesh Mahesh Gohel Vs DCIT (ITAT Mumbai)
Time-Barred 148 Notice Dooms 263 Revision – ITAT Mumbai Quashes PCIT’s Order; Non-Est Reassessment Cannot Be Revised
Assessee had originally filed return declaring income of Rs. 5.01 lakh. On receipt of information from the Investigation Wing that the Assessee had allegedly paid ‘On Money’ of Rs. 81.12 lakh to M/s Runwal Group for purchase of a shop, AO reopened the assessment by issuing notice u/s 148 & finally passed reassessment order u/s 147 r.w.s. 144B on 30.03.2023 accepting the returned income. PCIT later invoked Explanation 2 to s...
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