JCIT Not Empowered To Issue Sanction For Reassessment Under Proviso To S.151(1) Of Income Tax Act: Delhi High Court

The Delhi High Court has held that sanction for initiation of reassessment action against an assessee under the proviso to Section 151(1) of the Income Tax Act 1961, cannot be issued by the Joint Commissioner of Income Tax.Section 151(1) contemplates issuance of sanction by JCIT for initiating reassessment action under Section 148 against an assessee who has already undergone...