SC Dismisses SLP as Reassessment Lacked Approval from Correct Specified Authority

ITO Vs Mangla Gupta (Supreme Court of India) The matter arose from reassessment proceedings initiated for Assessment Years (AY) 2016-17 and 2017-18, which were challenged before the Delhi High Court. The core issue was whether notices issued under Sections 148A(d) and 148 of the Income Tax Act, 1961 were legally sustainable in the absence of approval from the “specified authority” as mandated under the amended provisions of the Act. Read HC Judgment in this case: Reassessment Invalid as Approval Taken from Wrong Authority Beyond Three-Year Limit: Delhi HC In one representative case, the a...