ITAT Quashes Reassessment for Non-Compliance with GKN Drive Shaft Judgment

Amit Kumar Banthia (HUF) Vs DCIT (ITAT Bangalore)

Reassessment proceedings quashed due to non-compliance with GKN Drive Shaft procedure: Bang ITAT

Assessee  filed its return of income declaring total income of Rs. 11,167/- &  claiming Rs19,38,938  as   exempt u/s 10(38).  Assessee filed its return of income in response  u/s 148  &   called for the copy of reasons recorded. AO provided the reasons recorded on 4.2.2022 & against these reasons, assessee filed its objections on  1.3.2022 objecting  to the re-assessment proceedings. AO com

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