https://www.taxtmi.com/caselaws?id=765898 ITAT Mumbai quashed reopening assessment u/s 147 for AY 2017-18. Notice u/s 148 was issued on 29.07.2022 with prior approval from PCIT-27 Mumbai dated 27.07.2022. Since three years had elapsed from assessment year end (31.03.2021), approval should have been obtained from Principal Chief Commissioner or Principal Director General as specified authority under section 151(ii). The approval from PCIT was insufficient under the new regime requirements. Notice u/s 148 held invalid and consequent assessment quashed. Assessee's appeal allowed. en-us Mon, 10 Feb 2025 00:00:00 +0530 Wed, 12 Feb 2025 08:30:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765898 ITAT Mumbai quashed reopening assessment u/s 147 for AY 2017-18. Notice u/s 148 was issued on 29.07.2022 with prior approval from PCIT-27 Mumbai dated 27.07.2022. Since three years had elapsed from assessment year end (31.03.2021), approval should have been obtained from Principal Chief Commissioner or Principal Director General as specified authority under section 151(ii). The approval from PCIT was insufficient under the new regime requirements. Notice u/s 148 held invalid and consequent assessment quashed. Assessee's appeal allowed. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765898