Section 148 Notice Quashed for Vague Reasons & Lack of Supporting Material: ITAT Pune

Advertisement Someshwar Nandkishor Tapde Vs ITO (ITAT Pune) Pune ITAT Quashes Reassessment Based on Vague Search Information and Deletes ₹51.35 Lakh Addition The assessee appealed against the order of the Commissioner of Income Tax (Appeals) for AY 2017-18 arising from an assessment under sections 147 read with 144B. The assessee contended that the notice under section 148 was issued solely on the basis of vague information allegedly based on Mr. Sachin Nahar’s statement, without identifying the alleged lenders, dates, terms, seized documents, or any statement specifically linking the a...