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]

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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