Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Validity of assessment - no notice u/s 143(2) - the assessment order passed by the Assessing Officer (DCIT) was bad in law for want of issuance of notice u/s 143(2) of the Act. - since the legal issue relating to the jurisdiction to frame the assessment not only for want of issue of notice u/s 143(2) of the Act but also for want of competent territorial jurisdiction to frame the assessment is decided in favour of the assessee, therefore, the assessment order passed without jurisdiction is bad in law and is hereby quashed. - AT
Validity of assessment - no notice u/s 143(2) - the assessment order passed by the Assessing Officer (DCIT) was bad in law for want of issuance of notice u/s 143(2) of the Act. - since the legal issue relating to the jurisdiction to frame the assessment not only for want of issue of notice u/s 143(2) of the Act but also for want of competent territorial jurisdiction to frame the assessment is decided in favour of the assessee, therefore, the assessment order passed without jurisdiction is bad in law and is hereby quashed. - AT
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