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
Supreme Court: Income Tax Reassessment Invalid Without Mandatory Section 143(2) Notice Issuance Even If Taxpayer ParticipatesITAT Holds Repaid Loan Cannot Be Treated as Bogus Accommodation Entry Merely on SuspicionSnowman Logistics Receives Income Tax Rectification Order, Penalty for AY 2024-25 Reduced from Rs 2.06 Crore to Rs 1.72 CroreITAT Holds Audit Objection Cannot Alone Justify Reassessment Revision
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
2153My Recent Articles
- CBI Raids Offices and Residences of Aaj Ka Anand Papers Directors in Pune Over Alleged Rs 81.66 Crore SBI Fraud
- Snowman Logistics Receives Income Tax Rectification Order, Penalty for AY 2024-25 Reduced from Rs 2.06 Crore to Rs 1.72 Crore
- Kalpataru Projects International Receives Rs 6.76 Crore GST Penalty Order for FY 2018-19 and FY 2020-21, Plans to File Appeal
- Former National Archives Archivist Sentenced to Three Years in Jail by Ahmedabad CBI Court for Accepting Rs 15,000 Bribe
- B.Tech Biotechnology in Delhi NCR: Exploring The Curriculum, College Facilities and Career Prospects
Up Next
Loading suggestions…
Recent Posts
All Posts
Recent Posts
All Posts