Rs 2 cr deposit, no ITR, Rs 2.51 cr addition; ITAT quashes case due to 5 day delay
60-Word AI Digest
The Income Tax Appellate Tribunal (ITAT), Chennai, has quashed a reassessment involving Rs 2.51 crore additionals after holding that the Income Tax Department had issued the reopening notice after the statutory time limit had already expired.
Key Takeaways
- Rs 2 cr deposit, no ITR, Rs 2.51 cr addition; ITAT quashes case due to 5 day delay
- The Income Tax Appellate Tribunal (ITAT), Chennai, has quashed a reassessment involving Rs 2.51 crore additionals after holding that the Income Tax Department had issued the reopening notice after the statutory time limit had already expired.
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The Income Tax Appellate Tribunal (ITAT), Chennai, has quashed a reassessment involving Rs 2.51 crore additionals after holding that the Income Tax Department had issued the reopening notice after the statutory time limit had already expired.
Original Publisher Attribution
This summary was curated from Times of India.