ITAT Nagpur Bench Quashes Reassessment: Income Below Threshold for 3-Year Limit

Rupesh Laldas Dhakate Vs ITO (ITAT Nagpur) In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Nagpur Bench, has quashed the reassessment order and deleted the entire addition made against Rupesh Laldas Dhakate for the Assessment Year (AY) 2017-18. The Tribunal’s decision, issued on May 27, 2025, primarily rests on the finding that the reassessment proceedings were initiated without proper jurisdiction, as the alleged escaped income fell below the statutory threshold for initiating reassessment beyond three years. The assessee, Rupesh Laldas Dhakate, had challenged the or...