Tribunal Overturns Reassessment Due to Lack of Notice Evidence; Assessee's Appeal Delay Condoned for Bona Fide Reasons.

Tribunal Overturns Reassessment Due to Lack of Notice Evidence; Assessee's Appeal Delay Condoned for Bona Fide Reasons. https://www.taxtmi.com/highlights?id=77490 Validity of ex-parte assessment order u/s. 144 r.w.s. 147 - Delay in filing the appeal before the CIT(A) - The ITAT Mumbai allowed the appeal filed by the assessee, condoning the delay in filing the appeal due to the bona fide reasons provided. The Tribunal invalidated the reassessment proceedings and the assessment order due to the failure of the Revenue to produce evidence of the issuance and service of the notice u/s 148. Consequently, the grounds related to the validity of the reassessment proceedings and the assessment order were allowed, and the merits of the additions to the total income were left open. en-us Thu, 16 May 2024 08:22:39 +0530 Thu, 16 May 2024 08:22:39 +0530 TaxTMI RSS Generator Tribunal Overturns Reassessment Due to Lack of Notice Evidence; Assessee's Appeal Delay Condoned for Bona Fide Reasons. https://www.taxtmi.com/highlights?id=77490 Validity of ex-parte assessment order u/s. 144 r.w.s. 147 - Delay in filing the appeal before the CIT(A) - The ITAT Mumbai allowed the appeal filed by the assessee, condoning the delay in filing the appeal due to the bona fide reasons provided. The Tribunal invalidated the reassessment proceedings and the assessment order due to the failure of the Revenue to produce evidence of the issuance and service of the notice u/s 148. Consequently, the grounds related to the validity of the reassessment proceedings and the assessment order were allowed, and the merits of the additions to the total income were left open. Highlights Income Tax Thu, 16 May 2024 08:22:39 +0530 https://www.taxtmi.com/highlights?id=77490