Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2024 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (5) TMI 156 - ITAT DELHIValidity of reopening of assessment - Valid approval granted by PCIT u/s 151 or not? - HELD THAT:- We observed from the record that AO has received the approval from the PCIT-7 for reopening of the assessment and Ld. PCIT in point No.13 mentioned that it is a fit case for issue of notice u/s 148 by observing that “Yes I am satisfied”. As in the case of Safonia Tradelinks (P.) Ltd. 2021 (3) TMI 1177 - DELHI HIGH COURT wherein the approval u/s 151 was granted simply and endorsing as approved. Even in this case the issue was decided in favour of the assessee. Further, it is brought to our notice in the case of VCR Township Pvt. Ltd. 2020 (10) TMI 1223 - ITAT DELHI wherein similar approval was granted for reopening of the assessment by approving authority as “Yes, I am satisfied” and the Co-ordinate Bench has decided the similar issue in favor of the assessee. Respectfully following the above decision, the facts in the present case are also exactly similar to the above facts on record. Accordingly, ground No.3 raised by the assessee is allowed.
|