Functional comparability under TNMM: broadcasters excluded, software distributors included, and no separate interest on receivables after working capi...
The Appellate Tribunal addressed the issue of notice u/s 143(2) issued by a non-jurisdictional AO. The initial notice was issued by an ITO who did not have valid jurisdiction over the case due to the income threshold. The subsequent assessment order by DCIT, based on the invalid notice, was deemed unsustainable. The objection period for jurisdiction was analyzed, citing a relevant case. The Tribunal concluded that the assessment order by DCIT, relying on the improper notice, must be quashed. The appeal of the assessee was allowed.
The Appellate Tribunal addressed the issue of notice u/s 143(2) issued by a non-jurisdictional AO. The initial notice was issued by an ITO who did not have valid jurisdiction over the case due to the income threshold. The subsequent assessment order by DCIT, based on the invalid notice, was deemed unsustainable. The objection period for jurisdiction was analyzed, citing a relevant case. The Tribunal concluded that the assessment order by DCIT, relying on the improper notice, must be quashed. The appeal of the assessee was allowed.
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