Bank Statement Needs to be Obtained Before Issuing Notice for Reassessment u/s 148: ITAT Deletes Income Tax Addition [Read Order]

By Ipsita Das - On July 14, 2023 10:00 am - 2 mins read

Bank - Statement- Obtained - Issuing - Notice - Reassessment - ITAT - Income - Tax - Addition - TAXSCAN

The Delhi bench of Income Tax Appellate Tribunal (ITAT) held that the revenue authorities are expected at least to obtain the bank statement before issue of notice under Section 148 of the Income Tax Act, 1961 and completion of the assessment proceedings under Section 144 of the Income Tax Act, since the revenue could not…

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