https://www.taxtmi.com/caselaws?id=795682 Reassessment notices issued more than three years after the relevant assessment year require approval from the authority specifically designated under Section 151(ii). Approval by the Principal Commissioner, rather than the prescribed higher authority, invalidates the notice and consequential reassessment; a later proviso cannot retrospectively alter the relevant period. Delay condonation for filing a return removes the basis for denying a co-operative society's deduction claim under Section 80P. Interest earned from investments with a co-operative bank qualifies for deduction where the bank remains a co-operative society for that purpose. The deduction claim requires fresh consideration consistently with the condonation order. 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 specifically designated under Section 151(ii). Approval by the Principal Commissioner, rather than the prescribed higher authority, invalidates the notice and consequential reassessment; a later proviso cannot retrospectively alter the relevant period. Delay condonation for filing a return removes the basis for denying a co-operative society's deduction claim under Section 80P. Interest earned from investments with a co-operative bank qualifies for deduction where the bank remains a co-operative society for that purpose. The deduction claim requires fresh consideration consistently with the condonation order. Case-Laws Income Tax Wed, 10 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795682