Reassessment notice u/s 148 quashed – Income below ₹50 lakh wrong sanctioning authority – ITAT Mumbai

Suman Jagannath Sankhe Vs CIT (Appeals) (ITAT Mumbai)

In Suman Jagannath Sankhe vs CIT(A) (A.Y. 2016-17), reassessment was initiated based on alleged cash deposits of ₹15 lakh. The assessee challenged jurisdiction on multiple legal grounds including limitation, absence of proper sanction u/s 151 and defects in procedure under the new reassessment regime.

The ITAT examined whether the notice u/s 148 issued on 19.07.2022 under the new law

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