Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
ITAT held that the reassessment notice u/s. 148 issued on 29.07.2022 was invalid due to procedural non-compliance. The three-year limitation period had lapsed, and the approval was not obtained from the specified authority as mandated under the new regime. The notice violated sections 149(1) and 151 of the Income Tax Act, as the approval was sought from an unauthorized Principal Commissioner instead of the Principal Chief Commissioner or Director General. Consequently, the tribunal quashed the reassessment notice, thereby allowing the assessee's appeal and rendering the proceedings null and void.
ITAT held that the reassessment notice u/s. 148 issued on 29.07.2022 was invalid due to procedural non-compliance. The three-year limitation period had lapsed, and the approval was not obtained from the specified authority as mandated under the new regime. The notice violated sections 149(1) and 151 of the Income Tax Act, as the approval was sought from an unauthorized Principal Commissioner instead of the Principal Chief Commissioner or Director General. Consequently, the tribunal quashed the reassessment notice, thereby allowing the assessee's appeal and rendering the proceedings null and void.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
