https://www.taxtmi.com/caselaws?id=763587 The ITAT AGRA held that the reopening of assessment was invalid due to lack of proper approval under section 151. The AO recorded reasons in March 2018 without possessing information that could form a belief that income had escaped assessment. The approving authority's mechanical approval, merely stating "approved" in a proforma, was insufficient as established in PCIT vs. NC Cables Ltd. The tribunal concluded that reopening was conducted without lawful approval from the competent authority under section 151, allowing the assessee's appeal. en-us Thu, 19 Dec 2024 00:00:00 +0530 Sat, 21 Dec 2024 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763587 The ITAT AGRA held that the reopening of assessment was invalid due to lack of proper approval under section 151. The AO recorded reasons in March 2018 without possessing information that could form a belief that income had escaped assessment. The approving authority's mechanical approval, merely stating "approved" in a proforma, was insufficient as established in PCIT vs. NC Cables Ltd. The tribunal concluded that reopening was conducted without lawful approval from the competent authority under section 151, allowing the assessee's appeal. Case-Laws Income Tax Thu, 19 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763587