ITAT Grants Major Relief In Penny-Stock Case, Quashes Reassessment Under Section 147:
ITAT quashes Section 147 reassessment for A.Y. 2015-16, holding the April 2021 reopening notice legally unsustainable under the Supreme Court’s earlier ruling.
ITAT Quashes Reassessment for A.Y. 2015-16
Vanshika verma
Aug 14, 2026
Premium
ITAT Grants Major Relief In Penny-Stock Case, Quashes Reassessment Under Section 147
ITAT quashes Section 147 reassessment for A.Y. 2015-16, holding the April 2021 reopening notice legally unsustainable under the Supreme Court’s earlier ruling.
Also Read
ITAT Holds Section 11 Exemption Cannot Be Denied to Educational Trust Merely for Excess Fee CollectionITAT Sets Aside Rs 3.47 Crore Addition, Reopening Beyond 4 Years Without PCIT Approval Is Legally InvalidITAT Remands Ex-Parte Assessment for Fresh Adjudication ITAT Invalidates Entire Reassessment Proceedings After Issuance of Section 148 Notice After Statutory Time Limit Prescribed Under Law
About Author
Vanshika verma
Content Writer
Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Studycafe
Delhi, Delhi, India
2053My Recent Articles
- CBI Arrests Kendriya Vidyalaya Principal and Middleman for Allegedly Accepting Rs 3 Lakh Bribe
- Ministry of Finance Releases FAQs on 57th GST Council Meeting, Covering GST Registration, Refunds, Input Tax Credit and Key Compliance Procedures
- CBI Busts Nationwide Banking Recruitment Exam Cheating Racket Across Four States, Arrests Four Including CGST Inspector
- 57th GST Council Meeting: Major Reforms Proposed to Simplify Compliance, Speed Up Refunds and Boost Ease of Doing Business
- PM Modi Calls for Global System to Fight Cyber Fraud and Deepfakes as India Pushes for Greater International Cooperation on Digital Security
Up Next
Loading suggestions…
Recent Posts
All Posts
Recent Posts
All Posts