https://www.taxtmi.com/caselaws?id=461981 ITAT Pune quashed reassessment proceedings initiated by notice under section 148 issued on 13.04.2022, beyond three years from the relevant assessment year. The tribunal held that sanction from Principal Chief Commissioner/Principal Director General was mandatory for reopening after three years as per amendments effective 01.04.2021, but approval was incorrectly obtained from PCIT-1, Pune. Since the sanction was not from the competent authority as required by law, the entire reassessment proceedings were deemed invalid and vitiated. The assessee's appeal was allowed. en-us Mon, 24 Feb 2025 00:00:00 +0530 Mon, 12 May 2025 19:09:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461981 ITAT Pune quashed reassessment proceedings initiated by notice under section 148 issued on 13.04.2022, beyond three years from the relevant assessment year. The tribunal held that sanction from Principal Chief Commissioner/Principal Director General was mandatory for reopening after three years as per amendments effective 01.04.2021, but approval was incorrectly obtained from PCIT-1, Pune. Since the sanction was not from the competent authority as required by law, the entire reassessment proceedings were deemed invalid and vitiated. The assessee's appeal was allowed. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461981