ITAT Mumbai: Sections 147/148 Apply even if AO not invokes Section 153C; ₹4.89 Cr Addition Upheld Under Section 68

Vijay Maneklal Bhansali Vs ITO (ITAT Mumbai) Sections 147/148 remain applicable if AO opts not to invoke Section 153C:   ITAT Mumbai upholds addition under Section 68 of ₹4.89 Cr. The case of Vijay Maneklal Bhansali vs. ITO revolves around the reassessment under Sections 147/148 of the Income-tax Act, 1961, and the addition of ₹4.89 crore under Section 68. The appellant, Vijay Maneklal Bhansali, challenged the reassessment order citing procedural and jurisdictional lapses by the Assessing Officer (AO). The ITAT Mumbai addressed the legal and factual aspects of the case, affirming the AOâ...