The approval process is intended as a safeguard and should be substantive, not merely a formal or ritualistic gesture
The Delhi High Court has ruled that simply appending the word “approved” by the PCCIT when granting approval under Section 151 of the Income Tax Act is insufficient for reopening under Section 148 of the Income Tax Act. In the case at hand, the petitioner declared an income of Rs. 7,69,73,060. During scrutiny assessment, a…
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