ITAT Quashes ₹83L STCG Notice to Canadian Resident Over Procedure
The Income Tax Appellate Tribunal (ITAT) ruled in favor of a Canadian resident who received a reassessment notice for ₹83 lakh short-term capital gains tax (STCG). The tribunal found the notice invalid because the taxpayer was given only five days to respond instead of the legally mandated seven days. This ruling emphasizes the importance of following proper legal procedures in tax reassessment cases.
Economic Times·



