ITAT Mumbai – Reassessment on Deceased Person Quashed; Entire Proceedings Penalties Held Void Ab Initio

Rakesh Jain Vs ITO (ITAT Mumbai)

In Rakesh Jain (Legal heir of Late Bhawarlal Shrilal Jain) (AY 2013-14), the ITAT quashed reassessment proceedings initiated u/s 147 against a deceased individual despite prior intimation of death to the department. The AO had added ₹1.67 Cr u/s 69A towards cash deposits and levied multiple penalties, while CIT(A) dismissed appeals on limitation without examining merits.

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