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Mumbai ITAT quashes reassessment for AY 2015-16 – AO’s “artificial inflation” of escaped income held legally unsustainable
Case Law Details
- Case Name
- Manoj Purushottam Bhadra Vs ITO Ward-20(2)(1) (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
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Manoj Purushottam Bhadra Vs ITO Ward-20(2)(1) (ITAT Mumbai)
Mumbai ITAT quashes reassessment for AY 2015-16 – AO’s “artificial inflation” of escaped income held legally unsustainable
In a major relief to the assessee, the Mumbai ITAT quashed the entire reassessment proceedings initiated u/s 147 after holding that the notice issued u/s 148 dated 18.04.2022 for AY 2015-16 was time-barred, based on incorrect facts, and issued without proper jurisdiction.
The reopening was triggered on the basis of information available on the Insight Portal alleging that the assessee ...
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