https://www.taxtmi.com/caselaws?id=10205 The High Court of CALCUTTA set aside the Assessing Officer's disallowance of the appellant's deduction of notional income under section 143(1)(a) of the Income-tax Act for the assessment year 1997-98. The Court held that the assessment should have been conducted under section 143(3) due to the nature of the disputed income being notional, emphasizing the necessity for proper assessment procedures and providing opportunities for explanation. The judgment highlighted the importance of following due process and conducting assessments in accordance with the law, ultimately allowing the appeal and directing authorities to proceed under section 143(3) after serving requisite notice. en-us Fri, 20 Aug 2004 00:00:00 +0530 Fri, 10 Jul 2009 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10205 The High Court of CALCUTTA set aside the Assessing Officer's disallowance of the appellant's deduction of notional income under section 143(1)(a) of the Income-tax Act for the assessment year 1997-98. The Court held that the assessment should have been conducted under section 143(3) due to the nature of the disputed income being notional, emphasizing the necessity for proper assessment procedures and providing opportunities for explanation. The judgment highlighted the importance of following due process and conducting assessments in accordance with the law, ultimately allowing the appeal and directing authorities to proceed under section 143(3) after serving requisite notice. Case-Laws Income Tax Fri, 20 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10205