ITAT Rajkot: Wrong Sanction & Late 148 Notice Void Reassessment

Ashish Mansukhlal Gokani Mithapur Vs CIT (Appeals) (ITAT Rajkot)

AY 2013-14 Beyond Limitation-  Jurisdictional Defect Fatal: Wrong Sanction & Late 148 Notice Void the Reassessment

Assessee filed return declaring Rs.1,85,850/-. Based on Insight-Portal information regarding total bank credits of Rs.1,61,84,806/-, AO reopened assessment u/s 147 & completed reassessment u/s 144/147 on 29.03.2022, treating Rs.70,38,117/- as unexplained credits u/s 68. CIT(A)/NFAC partly sustained addition at Rs.7,49,971/-.

Before Tribunal, Assessee challenged the

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