https://www.taxtmi.com/caselaws?id=764988 The ITAT Mumbai quashed a reassessment proceeding initiated by the AO under section 148 of the Income Tax Act. The tribunal found that the notice issued on 04.04.2022 was beyond the three-year limitation period, requiring approval from the Principal Chief Commissioner under section 151(ii). However, the approval was obtained from CIT(IT) instead of the correct authority. Following the Vodafone Idea case precedent, the tribunal held that the notice issued without proper approval from the appropriate authority was invalid, rendering the subsequent assessment under sections 147 and 144(13) liable to be quashed. The case was decided in favor of the assessee. en-us Mon, 13 Jan 2025 00:00:00 +0530 Thu, 23 Jan 2025 08:39:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764988 The ITAT Mumbai quashed a reassessment proceeding initiated by the AO under section 148 of the Income Tax Act. The tribunal found that the notice issued on 04.04.2022 was beyond the three-year limitation period, requiring approval from the Principal Chief Commissioner under section 151(ii). However, the approval was obtained from CIT(IT) instead of the correct authority. Following the Vodafone Idea case precedent, the tribunal held that the notice issued without proper approval from the appropriate authority was invalid, rendering the subsequent assessment under sections 147 and 144(13) liable to be quashed. The case was decided in favor of the assessee. Case-Laws Income Tax Mon, 13 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764988