No reassessment beyond 3 years without proper sanction of prescribed higher authority

Prakasam District Police Welfare Association Vs ITO (ITAT Hyderabad) Conclusion: Reassessment proceedings was invalid for a notice issued beyond three years without the sanction of the prescribed higher authority as prior approval must mandatorily be obtained from the authorities specified under Section 151(ii) and approval by the Principal Commissioner was not valid in such cases. Held: Assessing Officer (AO) commenced proceedings under Section 147 in respect of Assessment Year (AY) 2018-19 on the basis of information received by him from the Risk Management Strategy of the Central Board of ...