https://www.taxtmi.com/caselaws?id=795682 Reassessment notices issued more than three years after the relevant assessment year require approval from the authority specified under Section 151(ii); approval by a Principal Commissioner is insufficient, and a later proviso cannot retrospectively alter the approval requirement by excluding the Section 148A(b) response period. The article states that the resulting reassessment was quashed. It further states that condonation of delay in filing a return removes the basis for denying Section 80P deduction, requiring fresh consideration of the claim. Interest earned by a co-operative society from investments with a co-operative bank is stated to qualify under Section 80P(2)(d), as the bank remains a co-operative society for that purpose. en-us Wed, 10 Jun 2026 00:00:00 +0530 Sat, 25 Jul 2026 08:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795682 Reassessment notices issued more than three years after the relevant assessment year require approval from the authority specified under Section 151(ii); approval by a Principal Commissioner is insufficient, and a later proviso cannot retrospectively alter the approval requirement by excluding the Section 148A(b) response period. The article states that the resulting reassessment was quashed. It further states that condonation of delay in filing a return removes the basis for denying Section 80P deduction, requiring fresh consideration of the claim. Interest earned by a co-operative society from investments with a co-operative bank is stated to qualify under Section 80P(2)(d), as the bank remains a co-operative society for that purpose. Case-Laws Income Tax Wed, 10 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795682