https://www.taxtmi.com/caselaws?id=759761 ITAT Mumbai quashed reassessment proceedings initiated under section 147 after three-year limitation period elapsed. The Revenue failed to obtain proper sanction from Specified Authority as required under section 151 before issuing notice under section 148. The tribunal held that section 148A(d) order with Principal CIT approval was insufficient and not in conformity with prevailing law. The notice was declared void ab-initio, and entire reopening proceedings including assessment order under sections 147 and 144B were quashed. Assessee's appeal was allowed. en-us Tue, 01 Oct 2024 00:00:00 +0530 Tue, 08 Oct 2024 07:36:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759761 ITAT Mumbai quashed reassessment proceedings initiated under section 147 after three-year limitation period elapsed. The Revenue failed to obtain proper sanction from Specified Authority as required under section 151 before issuing notice under section 148. The tribunal held that section 148A(d) order with Principal CIT approval was insufficient and not in conformity with prevailing law. The notice was declared void ab-initio, and entire reopening proceedings including assessment order under sections 147 and 144B were quashed. Assessee's appeal was allowed. Case-Laws Income Tax Tue, 01 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759761