Man earning ₹3,500 a month faced ₹1.46 crore tax demand; how ITAT Mumbai came to his rescue
The Income Tax Appellate Tribunal (ITAT) in Mumbai quashed a ₹1.46 crore tax reassessment against Ravi Dilip Waghela, who claimed to earn ₹3,500 monthly. The tribunal ruled that the tax department failed to properly serve the notice required for reassessment. The case highlights the importance of valid notice service in tax disputes, with implications for similar cases.