Notice u/s 148 Issued After 01.04.2021 for AY 2015-16 Held Invalid: ITAT Pune

Sandesh Liladhar Chaudhari Vs ITO (ITAT Pune) Notice u/s 148 Issued After 01.04.2021 for AY 2015-16 Held Invalid – ITAT Pune Quashes Reassessment AO had issued notice u/s 148A(b) & order u/s 148A(d) on 26.07.2022, alleging cash deposit of ₹1.01 crore in Renukamata Multistate Urban Co-op Society. Assessee objected that details were mismatched, deposits were only ₹2.54 lakh, return was already filed & CBDT instructions did not permit reopening below ₹50 lakh. Tribunal referred to Union of India v. Rajeev Bansal (469 ITR 46, SC) where Revenue conceded that for AY 2015-16 all notic...