Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The ITAT held that the notice issued under section 143(2) was invalid as it failed to comply with the CBDT instructions, specifying only computer-aided scrutiny without clarifying the nature of scrutiny, thereby rendering all consequential proceedings invalid. Additionally, the notice was issued by a non-jurisdictional Assessing Officer in violation of CBDT Instruction No.1/2011, further invalidating the assessment framed under section 143(3) without a mandatory notice under section 142. Relying on precedent, the Tribunal quashed the assessment order, affirming that issuance of an invalid notice under section 143(2) vitiates the entire assessment. The assessee's appeal was allowed on both grounds, resulting in the annulment of the assessment proceedings.
The ITAT held that the notice issued under section 143(2) was invalid as it failed to comply with the CBDT instructions, specifying only computer-aided scrutiny without clarifying the nature of scrutiny, thereby rendering all consequential proceedings invalid. Additionally, the notice was issued by a non-jurisdictional Assessing Officer in violation of CBDT Instruction No.1/2011, further invalidating the assessment framed under section 143(3) without a mandatory notice under section 142. Relying on precedent, the Tribunal quashed the assessment order, affirming that issuance of an invalid notice under section 143(2) vitiates the entire assessment. The assessee's appeal was allowed on both grounds, resulting in the annulment of the assessment proceedings.
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