HC quashed reassessment proceedings as reason approved a day after issue of section 148 notice

River Valley Meadows and Township (P) Limited Vs. DCIT (Bombay High Court) Bombay High Court quashed reassessment proceedings where reason approved one day after issue of notice u/s 148 In the present case, notice under Section 148 of the Income Tax Act, 1961 was issued for the A.Y. 2015-16 by the Jurisdictional assessing officer on 25/06/2019. Assessee obtained a copy of reason to believe, wherein it was found that approval by competent authority (Addl. CIT in this case) was taken on 26/06/2019, whereas aforesaid notice was issued “one day before” on 25/06/2019. A writ challenging...