2026 (8) TMI 949

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....i Balkishan Gopal, Sr. DR ORDER PER SANJAY AWASTHI, ACCOUNTANT MEMBER: 1. This appeal arises from order dated 03.12.2025, passed u/s 250 of the Income Tax Act, 1961 (hereafter as "the Act"), by NFAC, Delhi. 1.1 In this case, the assessee company was originally incorporated under the name and style of M/s Maple Magix Developers Pvt. Ltd. and later on assumed the present name. In this ca....

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....avita Holdings Pvt. Limited. 1.2 The aggrieved assessee approached the Ld. CIT(A) where he could not succeed and his appeal was dismissed. 1.3 Further aggrieved, the assessee has approached the ITAT with a number of grounds, including several additional grounds of appeal, which challenge the Ld. AO's action on the ground that the assumption of jurisdiction was illegal. 2. Before us the Ld....

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....e appropriate authority is a precondition for the Assessing Officer to assume jurisdiction under section 148 to issue a reassessment notice. Section 151 of the new regime does not prescribe a time limit within which a specified authority has to grant sanction. Rather, it links up the time limits with the jurisdiction of the authority to grant sanction. Section 151(ii) of the new regime prescribes ....