Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
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.
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TaxTMI 
TaxTMI 
of 4921 
