Section 148 Notice cannot be issued to Partner for Transactions Among Partnership Firms

Bhagwan Laxman Rokde Vs ITO (ITAT Mumbai) The case of Bhagwan Laxman Rokde Vs ITO, adjudicated by the Income Tax Appellate Tribunal (ITAT) Mumbai, revolves around the validity of reopening under section 147, taxation issues concerning undisclosed income, and transactions involving partnership firms. Let’s delve deeper into the intricacies of this case. Background: On 14th June 2023, the National Faceless Assessment Centre (NFAC) Delhi issued an order concerning the quantum of assessment for the Assessment Year (A.Y.) 2011-12, under section 143(3) read with section 147 of the Income Tax A...