Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
The ITAT held that jurisdiction to issue notice under section 143(2) and to frame assessment under section 143(3) lies exclusively with the DCIT/ACIT of Income Tax 1(1), Raipur, and not with the ITO, Ward 1(4). The assessment framed by the ITO, Ward 1(4), was therefore without jurisdiction, rendering it void ab initio. Consequently, the assessment order dated 28.12.2017 was quashed. Since the assessment was invalid, all subsequent proceedings arising therefrom were declared non est in law. The appeal filed by the assessee was allowed on the ground of lack of jurisdiction, emphasizing that any exercise of power imposing financial liability must be within the legally prescribed jurisdiction to be valid.
The ITAT held that jurisdiction to issue notice under section 143(2) and to frame assessment under section 143(3) lies exclusively with the DCIT/ACIT of Income Tax 1(1), Raipur, and not with the ITO, Ward 1(4). The assessment framed by the ITO, Ward 1(4), was therefore without jurisdiction, rendering it void ab initio. Consequently, the assessment order dated 28.12.2017 was quashed. Since the assessment was invalid, all subsequent proceedings arising therefrom were declared non est in law. The appeal filed by the assessee was allowed on the ground of lack of jurisdiction, emphasizing that any exercise of power imposing financial liability must be within the legally prescribed jurisdiction to be valid.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4798
Join Channel
TaxTMI 
