Reassessment Quashed Due to Invalid Section 151 Sanction: Bombay HC

Rajendra Bothmal Singhvi Vs ITO (Bombay High Court) The Bombay High Court dealt with a writ petition relating to Assessment Year 2017–18 challenging reassessment proceedings on the ground of improper sanction under section 151 of the Income-tax Act, 1961. During the hearing, the petitioner relied on the earlier decision of the Court in Siemens Financial Services Private Limited, where it was held that for the relevant assessment year, sanction for issuance of reassessment notice was required under section 151(ii) and not under section 151(i). The Court in that case had ruled that sanction ob...