Section 143(2) – Validity in Set-Aside Reassessment Proceedings and Effect of Non-Verification of Return of Income

PCIT Vs Ashish Gupta (Allahabad High Court) Section 143(2) – Validity in Set-Aside Reassessment Proceedings and Effect of Non-Verification of Return of Income The jurisdictional validity of reassessment proceedings hinges fundamentally on compliance with statutory safeguards embedded in the Income-tax Act, 1961. Among these, issuance of notice under Section 143(2) occupies a central and non-negotiable position. The decision of the Allahabad High Court in Principal Commissioner of Income Tax v. Ashish Gupta decisively reiterates that failure to issue notice under Section 143(2) render...