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ITAT Quashes Reassessment After 3 Years for Invalid Sanction
Case Law Details
- Case Name
- Ratan N. Motwani (HUF) Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Mumbai
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Ratan N. Motwani (HUF) Vs ITO (ITAT Mumbai)
ITAT Mumbai Quashes Reassessment for Want of Proper Sanction; PCIT’s Approval Invalid When Notice Issued After 3 Years
Assessee–HUF appealed against reassessment u/s 147 where the AO made additions of ₹51,90,400 & ₹51,89,440 towards alleged accommodation-entry sales to Abhinandan Diamond Pvt Ltd & Aisshpra Gems/Gravit Diamonds Pvt Ltd, & ₹22,00,000 as unexplained loan repayment. Along with merits, Assessee raised strong legal grounds against reopening—primarily invalid sanction u/s 151, lack of jurisdiction, & limitation u...
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