https://www.taxtmi.com/caselaws?id=247352 The High Court emphasized the necessity of a notice under section 143(2) of the Income Tax Act before assessment under section 143(3) and clarified that the absence of such notice impacts the assessment process. It was held that when the assessee appears before the assessment order, the notice requirement becomes a formality, not affecting natural justice principles. The Court interpreted section 292BB to have retrospective effect on pending proceedings, disagreed with the Tribunal's view on its prospective operation, highlighted errors in the Tribunal's findings, and set aside previous orders. The matter was remanded for fresh proceedings with a new notice to the assessee. en-us Tue, 08 Apr 2014 00:00:00 +0530 Fri, 09 May 2014 10:48:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247352 The High Court emphasized the necessity of a notice under section 143(2) of the Income Tax Act before assessment under section 143(3) and clarified that the absence of such notice impacts the assessment process. It was held that when the assessee appears before the assessment order, the notice requirement becomes a formality, not affecting natural justice principles. The Court interpreted section 292BB to have retrospective effect on pending proceedings, disagreed with the Tribunal's view on its prospective operation, highlighted errors in the Tribunal's findings, and set aside previous orders. The matter was remanded for fresh proceedings with a new notice to the assessee. Case-Laws Income Tax Tue, 08 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247352