Pune ITAT Quashes Section 148 Notice for Taking Sanction From PCIT Instead of PCCIT

Dharmaraj Babanrao Dahiwalkar Vs ITO (ITAT Pune) Wrong Approval, Wrong Reassessment – Pune ITAT Quashes 148 Notice for Taking Sanction From PCIT Instead of PCCIT! The Pune ITAT quashed reassessment proceedings for AY 2016-17 holding that the notice issued u/s 148 was invalid because the Assessing Officer obtained approval from the Principal Commissioner of Income Tax (PCIT) instead of the Principal Chief Commissioner of Income Tax (PCCIT) as mandated u/s 151. The reassessment was initiated after information regarding alleged cash payment and cheque payment for purchase of immovable prope...