ITAT Delhi Quashes Reassessment; Non-Service of Sec 148 Notice & Incorrect Reasons Void Proceedings

Rohit Manchanda Vs ITO (ITAT Delhi) ITAT Delhi Quashes Reassessment – Non-Service of Sec 148 Notice Factually Incorrect Reasons Render Proceedings Void In Rohit Manchanda vs ITO (AY 2012-13), the ITAT Delhi allowed the assessee’s appeal and annulled reassessment proceedings holding them void ab initio. The AO had reopened the case based on AIR information alleging non-disclosure of capital gains from property sale; however, the Tribunal found that the assessee had already filed a regular return declaring the transaction and claiming exemption u/s 54. The ITAT observed that notice u/s 148 w...