Reopening Beyond 3 Years Needs Pr. CCIT Nod: ITAT Delhi Annuls Notice

ITO Vs RMP Holdings Pvt. Ltd. (ITAT Delhi) Wrong Sanction, Wrong Timing – ITAT Delhi Strikes Down Reopening- Notice Beyond 3 Years Needs Pr. CCIT Nod – Reopening Held Void Delhi ITAT has upheld the order of CIT(A), annulling the reassessment proceedings . for AY 2017-18. Tribunal held that the notice issued u/s 148 was invalid as it lacked the sanction of the correct “specified authority” prescribed u/s 151 & was also barred by limitation. Assessee, engaged in the business of finance & investment, had originally filed a NIL return of income for AY 2017-18. The assessment wa...