https://www.taxtmi.com/caselaws?id=766148 The ITAT Guwahati dismissed the assessee's challenge to the ACIT's jurisdiction under section 143(2), ruling that pecuniary jurisdiction disputes are administrative matters and curable defects when not challenged initially. The tribunal held that both territorial officers had valid jurisdiction, with work division based on returned income limits being permissible. However, the ITAT remanded the matter regarding sundry creditors treated as discharged liability under section 41(1), directing the AO to determine genuineness of entries and make additions in appropriate assessment years if adverse findings emerge, considering statutory limitations for reopening. en-us Tue, 26 Nov 2024 00:00:00 +0530 Wed, 19 Feb 2025 08:42:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766148 The ITAT Guwahati dismissed the assessee's challenge to the ACIT's jurisdiction under section 143(2), ruling that pecuniary jurisdiction disputes are administrative matters and curable defects when not challenged initially. The tribunal held that both territorial officers had valid jurisdiction, with work division based on returned income limits being permissible. However, the ITAT remanded the matter regarding sundry creditors treated as discharged liability under section 41(1), directing the AO to determine genuineness of entries and make additions in appropriate assessment years if adverse findings emerge, considering statutory limitations for reopening. Case-Laws Income Tax Tue, 26 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766148