https://www.taxtmi.com/caselaws?id=752103 The ITAT Delhi held that the reopening of assessment was invalid due to inadequate approval by PCIT under section 151. The PCIT's approval merely stated "Yes I am satisfied" without proper reasoning or detailed consideration. Following precedents from Delhi HC in Safonia Tradelinks case and ITAT Delhi in VCR Township case, where similar cursory approvals were deemed insufficient, the tribunal ruled in favor of the assessee. The ground challenging the validity of reopening was allowed, establishing that mere endorsement without substantive reasoning fails to constitute valid approval for assessment reopening. en-us Tue, 30 Apr 2024 00:00:00 +0530 Thu, 02 May 2024 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752103 The ITAT Delhi held that the reopening of assessment was invalid due to inadequate approval by PCIT under section 151. The PCIT's approval merely stated "Yes I am satisfied" without proper reasoning or detailed consideration. Following precedents from Delhi HC in Safonia Tradelinks case and ITAT Delhi in VCR Township case, where similar cursory approvals were deemed insufficient, the tribunal ruled in favor of the assessee. The ground challenging the validity of reopening was allowed, establishing that mere endorsement without substantive reasoning fails to constitute valid approval for assessment reopening. Case-Laws Income Tax Tue, 30 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752103