Economy

Rs 2 crore deposit, no ITR, Rs 2.51 crore addition; ITAT quashes because reassessment is 5 days late

· 9 October 2026 · 2 min read
Rs 2 crore deposit, no ITR, Rs 2.51 crore addition; ITAT quashes because reassessment is 5 days late

The Times of India has reported a new India-focused economy development: “Rs 2 crore deposit, no ITR, Rs 2.51 crore addition; ITAT quashes because reassessment is 5 days late.” The publisher's feed describes the story as follows: <![CDATA[The Income Tax Appellate Tribunal (ITAT), Chennai, has quashed a reassessment involving Rs 2.51 crore additionals after holding that the Income Tax Department had issued the reopening notice after the statutory time limit had already expired. Intellectual Jan

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