Mechanical Approval of Reassessment by PCIT: ITAT Quashes Income Tax Notice u/s 148 [Read Order]

ITAT ruled that the reassessment proceedings were invalid due to improper jurisdiction under Section 147 of the tax statute and quashed the reassessment order.
By Varda Marakkar - On October 6, 2024 3:33 pm - 2 mins read
Mechanical Approval - Reassessment - PCIT - ITAT - Income Tax Notice us 148 - TAXSCAN

Recently in a decision, the Income Tax Appellate Tribunal (ITAT) of Delhi quashed a reassessment notice issued under Section 148 of the Income Tax Act, 1961 (ITA) to the assessee/ appellant, Natraj Products Pvt. Ltd. for the Assessment Year 2010-11, citing mechanical approval granted by the Principal Commissioner of Income Tax (PCIT). The reassessment was…

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