Reassessment Declared Invalid Due to Non-Issuance of Mandatory 143(2) Notice

DCIT Vs Mahalaxmi Light House (ITAT Delhi) Reassessment Quashed for Want of Mandatory s.143(2) Notice –292BB Can’t Save Non-Issuance- Revenue’s Appeal Becomes Infructuous Assessee, a tent-erection & lighting services partnership firm, was reassessed u/s 147 r.w.s 144/144B on allegation of bogus purchases from Vrindavan International Trade Pvt Ltd (₹41,82,341) & mismatch between Form 26AS receipts (₹14.60 Cr) & turnover in ITR (₹11.62 Cr). CIT(A) deleted additions; Revenue appealed. Assessee filed Cross Objection challenging the validity of reassessment itself for non-is...