https://www.taxtmi.com/caselaws?id=756426 The Bombay HC held that reassessment proceedings initiated more than three years after the relevant assessment year require sanction under Section 151(ii) from specified higher-ranking authorities. The court found that reassessment notice issued on 30th June 2021 (over one year after the three-year limitation expired on 31st March 2020) was invalid as sanction was granted by Principal Commissioner rather than the authority empowered under Section 151(ii). The petition was allowed solely on grounds of improper sanction, with no opinion expressed on other legal issues. en-us Fri, 26 Jul 2024 00:00:00 +0530 Mon, 13 Jul 2026 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756426 The Bombay HC held that reassessment proceedings initiated more than three years after the relevant assessment year require sanction under Section 151(ii) from specified higher-ranking authorities. The court found that reassessment notice issued on 30th June 2021 (over one year after the three-year limitation expired on 31st March 2020) was invalid as sanction was granted by Principal Commissioner rather than the authority empowered under Section 151(ii). The petition was allowed solely on grounds of improper sanction, with no opinion expressed on other legal issues. Case-Laws Income Tax Fri, 26 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756426