Held that order passed the order under s. 148A(d) after lapse of three years from the end of the relevant assessment year after obtaining the sanction from the Principal CIT and not from the Principal Chief CIT, the reassessment proceedings are not valid. Followed Siemens Financial Services (P) Ltd. v. Dy. CIT (2023) 334 CTR 825 / 230 DTR 225 / 154 taxmann.com 159 457 ITR 647 (Bom) (HC) (Bom)(HC). (AY. 2016-17)
Goldiam International Ltd. v. DCIT (2024) 230 TTJ 1 / 238 DTR 33 / 38 NYPTTJ 411 (Mum)(Trib) Goldiam Jewelry v. Dy.CIT v. DCIT (2024) 230 TTJ 1 / 238 DTR 33 / 38 NYPTTJ 411 (Mum)(Trib) Editorial: Refer, UOI v. Rajeev Bansal (2024) 301 Taxman 238 / (2024) 469 ITR 46 (SC)
S. 151 : Reassessment-Sanction for issue of notice-More than three years from the relevant assessment year-Sanction for the order under s. 148A(d) was obtained from Principal CIT and not Principal Chief CIT-Reassessment proceedings are quashed [S. 147 148, 148A(b), 148A(d)]
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