https://www.taxtmi.com/caselaws?id=288742 The Tribunal found the Assessing Officer's assessment order to be irregular but not illegal regarding the jurisdiction issue. The matter was remanded for a de-novo assessment by a competent officer, either an ACIT or DCIT. The Tribunal held that the ITO lacked competence to assess income exceeding the specified limit, setting aside the assessment order and directing a fresh assessment by a competent officer. The assessee's appeal was allowed for statistical purposes, and the Revenue's appeal was dismissed. Other grounds raised did not require separate adjudication in light of the decision on jurisdictional issues. en-us Fri, 16 Sep 2016 00:00:00 +0530 Fri, 26 Jun 2020 09:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288742 The Tribunal found the Assessing Officer's assessment order to be irregular but not illegal regarding the jurisdiction issue. The matter was remanded for a de-novo assessment by a competent officer, either an ACIT or DCIT. The Tribunal held that the ITO lacked competence to assess income exceeding the specified limit, setting aside the assessment order and directing a fresh assessment by a competent officer. The assessee's appeal was allowed for statistical purposes, and the Revenue's appeal was dismissed. Other grounds raised did not require separate adjudication in light of the decision on jurisdictional issues. Case-Laws Income Tax Fri, 16 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288742