Tax reassessment based on a cancelled PAN was invalid: ITAT Pune

ITO Vs Agrasen Maharaj Nagari (ITAT Pune) The Income Tax Appellate Tribunal (ITAT) Pune addressed an appeal filed by the Income Tax Officer (ITO) against the order of the National Faceless Appeal Centre (NFAC). The case involved Agrasen Maharaj Nagari, a cooperative society, and a reassessment order issued under Section 147 of the Income-tax Act, 1961, based on a cancelled PAN. The society had informed the department about the cancellation of its old PAN (AAJCS0457K) and the adoption of a new PAN (AAMAS4518Q). The reassessment was initiated due to information from the ITBA module regarding tim...