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 legality of reopening. Tribunal examined th...