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CIT’s Approval Cannot Replace JCIT Sanction: ITAT Delhi
Case Law Details
- Case Name
- Sportking India Ltd Vs JCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006-07
- Courts
- All ITAT, ITAT Delhi
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Sportking India Ltd Vs JCIT (ITAT Delhi)
Approval Defect Fatal- CIT’s Approval Cannot Replace JCIT Sanction -Strict Compliance of section 151 Mandatory -ITAT Delhi Deletes 14.75-Crore Reassessment
Assessee filed return for AY 2006-07 declaring income of ₹35.13 lakh without offering MAT on book profits of ₹2.91 crore u/s 115JB. AO initially completed assessment u/s 143(3) on 23.12.2008. Subsequently, reassessment was initiated by issuing notice u/s 148 on 31.03.2011 & completed on 30.12.2011, determining income at ₹14.75 crore after making adjustments for earlier ye...
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