Section 292BB Cannot Cure Lack of Jurisdiction in 143(2) Notice

ABC India Limited Vs DCIT (ITAT Kolkata) Assessment Quashed for Want of Jurisdiction – Notice u/s 143(2) by Wrong AO Invalid The Kolkata ITAT quashed the assessment for AY 2015-16 holding that the notice issued under section 143(2) and the consequential assessment were void as they were issued by an officer lacking pecuniary jurisdiction under CBDT Instruction No. 1/2011. Since the assessee had returned nil income, jurisdiction lay with the ITO and not with the DCIT who issued the notice and completed the assessment. The Tribunal relied on several coordinate bench decisions and the Calcutta ...