Income Tax Assessment Quashed for Failure to Follow Mandatory CBDT Notice Format

Nihal Projects Vs ITO (ITAT Rajkot) The appeal concerned the assessee’s challenge to an order dated 17 October 2024 passed by the CIT(A) for AY 2017-18, upholding various additions and disallowances under sections 43B, 2(24)(x) r.w.s. 36(1)(va), 68, and on account of interest, differences in receipts, and unexplained cash deposits. The assessee also contested the application of section 115BBE, initiation of penalty proceedings, and charging of interest under sections 234A to 234D. In addition, an additional legal ground was raised contending that the notice issued under section 143(2) on 23...