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HomeDirect TaxParallel Proceedings U/S 143(3) and 147 Impermissible: ITAT Quashes Reassessment Against Lalit...

Parallel Proceedings U/S 143(3) and 147 Impermissible: ITAT Quashes Reassessment Against Lalit Kumar Modi 

Direct Tax

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By Mariya Paliwala
Parallel Proceedings U/S 143(3) and 147 Impermissible: ITAT Quashes Reassessment Against Lalit Kumar Modi

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The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) quashed the reassessment proceedings initiated against former IPL chairman Lalit Kumar Modi for the Assessment Year (AY) 2010–11, holding that reassessment under Section 147/148 of the Income Tax Act cannot be initiated while regular scrutiny assessment proceedings under Section 143(3) are still pending. The bench…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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