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Reassessment Beyond 3 Years Void for PCIT Approval Instead of PCCIT – ITAT Mumbai

Case Law Details

Case Name : Adarsh Developers Vs ITO (ITAT Mumbai)
Related Assessment Year : 2017-18
Courts : All ITAT ITAT Mumbai
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Adarsh Developers Vs ITO (ITAT Mumbai)

Reopening Beyond 3 Years Invalid – Approval by PCIT Instead of PCCIT Violates Sec 151(ii) – Entire Reassessment Quashed – ITAT Mumbai

AO reopened assessment u/s 147 alleging undervaluation of property u/s 43CA & estimated GP addition; CIT(A) upheld reassessment and additions. Assessee raised additional legal grounds challenging validity of notice u/s 148 under new regime.

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Author Bio

Name: CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka, India
Member Since: 17 Feb 2018 | Total Posts: 4558
CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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