ITAT quashes reassessment framed u/s.143(3) of Income Tax Act beyond 4 years on absence of establishing failure on part of assessee [Read Order]

By Aparna. M - On November 8, 2023 8:00 pm - 2 mins read

ITAT - ITAT quashes reassessment - Income Tax Act - failure - assessee - taxscan

The Income Tax Appellate Tribunal (ITAT), Chennai bench quashed reassessment framed under section 143(3) of the Income Tax Act, 1961 beyond 4 years in absence of establishing failure on part of assessee. The assessee, Villupuram District Central Co-operative Bank is a co-operative bank and it files its return of income originally i.e. e-return for the…

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Topics

CIT(A)ITAT Chennai Manjunatha. G Reassessment section 143(3) of the Income Tax Act