Reassessment Quashed: Notice u/s 148 Invalid Due to Approval by Non-Competent Authority per Section 151(1) Proviso.

Reopening of assessment - notice issued u/s 148 reveals that the approval has been accorded by the Additional Commissioner of Income-tax, who is not competent authority referred to in the first proviso to Sec. 151(1) - Reassessment proceedings quashed - AT .....

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