Accommodation Entry Case: Reassessment Beyond 3 Years Invalid Without Proper Sanction

ITO Vs Ruptex Mineral Water Private Limited (ITAT Delhi) Reopening Beyond Three Years Invalid for Want of Proper Sanction: ITAT Delhi Quashes Reassessment in Accommodation Entry Case The Delhi Bench of the ITAT allowed the assessee’s cross-objection and dismissed the Revenue’s appeal for AY 2017-18 by quashing the entire reassessment proceedings on a jurisdictional ground relating to invalid sanction under section 151 of the Income-tax Act. The case arose out of a demonetisation-related survey alleging bogus sales and accommodation entries, pursuant to which the Assessing Officer reopened ...