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Tribunal Deletes ₹2.14 Crore Addition Due to Invalid Pre-Notification NFAC Action
Case Law Details
- Case Name
- Albatross Investment Pvt. Ltd. Vs ITO (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Kolkata
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Albatross Investment Pvt. Ltd. Vs ITO (ITAT Kolkata)
Notice Issued by NFAC Pre-Notification Invalid — Addition of ₹2.14 Cr Deleted- NFAC Had No Jurisdiction Before 29-03-2022 — Faceless Assessment Without Notification- ITAT Kolkata Quashes Reassessment Order
Assessee raised an additional legal ground challenging jurisdiction of NFAC to frame a reassessment order dated 22.09.2021 u/s 147 r/w 144B. The argument was that NFAC had no authority to issue notices or complete reassessment before 29.03.2022, when CBDT notified the provisions of Section 151A governing faceless reassessment.
The re...
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