Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
The ITAT Kolkata ruled on the validity of an assessment order u/s 147. The jurisdictional AO did not issue a valid notice u/s 148. The assessee argued that the ACIT lacked jurisdiction and a fresh notice should have been issued by the correct authority. Since no such notice was issued, the assessment proceedings were deemed illegal and void ab initio. The ITAT held that without a valid notice u/s 148, the reassessment proceedings were bad in law and quashed them, deleting the additions made. The appeal by the assessee was allowed.
The ITAT Kolkata ruled on the validity of an assessment order u/s 147. The jurisdictional AO did not issue a valid notice u/s 148. The assessee argued that the ACIT lacked jurisdiction and a fresh notice should have been issued by the correct authority. Since no such notice was issued, the assessment proceedings were deemed illegal and void ab initio. The ITAT held that without a valid notice u/s 148, the reassessment proceedings were bad in law and quashed them, deleting the additions made. The appeal by the assessee was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4789
Join Channel
TaxTMI 
