Reassessment Quashed for Approval by Wrong Authority Under Section 151(ii): ITAT Mumbai

Advertisement Swift Developers Vs ITO (ITAT Mumbai) Mumbai ITAT Quashes Reassessment for Wrong Approval U/s 151(ii); Penalties U/s 270A & 271AAC Also Deleted The ITAT Mumbai allowed the assessee’s appeals by admitting an additional legal ground challenging the validity of the reassessment for Assessment Year 2017-18. The Tribunal found that the notice under Section 148 was issued beyond three years from the end of the relevant assessment year and that the order under Section 148A(d) and the notice under Section 148 had been approved by the Principal Commissioner of Income Tax instead ...