Bitcoin sale triggered ₹1.24 crore tax addition, but ITAT quashed the reassessment. Here’s why

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A Mumbai ITAT has quashed a reassessment involving ₹1.24 crore of bitcoin sale proceeds after finding that approval to reopen the AY 2018-19 assessment came from the wrong authority under Section 151. 

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Bitcoin sale triggered ₹1.24 crore tax addition, but ITAT quashed the reassessment. Here’s why

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