ITAT Kolkata Strikes Down Assessment for Lack of Jurisdiction Based on CBDT Limits

APE Power Pvt. Ltd. Vs DCIT (ITAT Kolkata) Notice Issued by Non-Jurisdictional AO Invalid: ITAT Kolkata Quashes Assessment Based on CBDT Pecuniary Limits The Kolkata Bench of the ITAT allowed the assessee’s appeal for AY 2015-16 and quashed the entire assessment on the ground that the statutory notice under section 143(2) was issued by an officer lacking pecuniary jurisdiction. The assessee had filed its return declaring income of about ₹49.24 lakh. As per CBDT Instruction No. 1/2011 dated 31.01.2011, cases above the prescribed pecuniary limits in metro cities fall within the jurisdiction ...