Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Non-service of mandatory notice u/s 143(2) renders assessment proceedings void ab initio. Revenue failed to prove sending of notice by ordinary post/registered post or obtaining substituted service order for affixture. Mere affixture report without following due process is insufficient. Absence of notice cannot be cured u/s 292BB per Supreme Court ruling. Service of Section 143(2) notice is a condition precedent for valid assessment. Assessment order passed without serving requisite notice is liable to be quashed in favor of assessee.
Non-service of mandatory notice u/s 143(2) renders assessment proceedings void ab initio. Revenue failed to prove sending of notice by ordinary post/registered post or obtaining substituted service order for affixture. Mere affixture report without following due process is insufficient. Absence of notice cannot be cured u/s 292BB per Supreme Court ruling. Service of Section 143(2) notice is a condition precedent for valid assessment. Assessment order passed without serving requisite notice is liable to be quashed in favor of assessee.
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