https://www.taxtmi.com/highlights?id=79682 Reassessment proceedings were held invalid due to lack of proper jurisdiction by the Assistant Commissioner of Income Tax while issuing the notice u/s 148. The assessment order was not passed by the person issuing the notice, rendering it a curable defect u/s 292BB. The ACIT lacked pecuniary jurisdiction as the assessee's total income for the relevant assessment year fell within the Income Tax Officer's jurisdiction. The subsequent transfer of assessment records by the ACIT to the ITO was deemed illegal, as transfers can only be done u/s 127 of the Income Tax Act, 1961. The defect was deemed incurable and not amenable to correction u/s 292BB. Consequently, the notice issued u/s 148 was without jurisdiction, and the consequent assessment ord..... en-us Wed, 24 Jul 2024 07:38:36 +0530 Wed, 24 Jul 2024 07:38:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79682 Reassessment proceedings were held invalid due to lack of proper jurisdiction by the Assistant Commissioner of Income Tax while issuing the notice u/s 148. The assessment order was not passed by the person issuing the notice, rendering it a curable defect u/s 292BB. The ACIT lacked pecuniary jurisdiction as the assessee's total income for the relevant assessment year fell within the Income Tax Officer's jurisdiction. The subsequent transfer of assessment records by the ACIT to the ITO was deemed illegal, as transfers can only be done u/s 127 of the Income Tax Act, 1961. The defect was deemed incurable and not amenable to correction u/s 292BB. Consequently, the notice issued u/s 148 was without jurisdiction, and the consequent assessment ord..... Highlights Income Tax Wed, 24 Jul 2024 07:38:36 +0530 https://www.taxtmi.com/highlights?id=79682