Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
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.
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