https://www.taxtmi.com/caselaws?id=756648 The ITAT Chennai held that a reassessment notice u/s 148 dated 15.04.2021 for AY 2015-16 was barred by limitation under s 149(1)(b) of the Finance Act, 2021. The AO lacked proper sanction or approval for issuing the notice as per the newly substituted provisions. Consequently, all reassessment proceedings pursuant to the impugned notice were set aside and the appeal was decided in favor of the assessee. en-us Mon, 22 Jul 2024 00:00:00 +0530 Wed, 07 Aug 2024 06:44:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756648 The ITAT Chennai held that a reassessment notice u/s 148 dated 15.04.2021 for AY 2015-16 was barred by limitation under s 149(1)(b) of the Finance Act, 2021. The AO lacked proper sanction or approval for issuing the notice as per the newly substituted provisions. Consequently, all reassessment proceedings pursuant to the impugned notice were set aside and the appeal was decided in favor of the assessee. Case-Laws Income Tax Mon, 22 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756648