Reassessment Quashed: Sec 143(2) Notice Mandatory in 147 Cases; Return Filed Within TOLA Time Valid – ITAT Kolkata

Goal Oriented Trade Link Pvt. Ltd. Vs ITO (ITAT Kolkata) Reassessment Quashed – Notice u/s 143(2) Mandatory Even in 147 Proceedings – Return Filed Within TOLA Extended Time Valid – ITAT Kolkata ITAT Kolkata quashed reassessment framed u/s 147 r.w.s.144 holding that issuance of notice u/s 143(2) is mandatory once return is filed in response to notice u/s 148. Tribunal observed that assessee’s return, though beyond 30 days mentioned in notice u/s 148, was filed within extended timeline granted under TOLA during Covid period and therefore was a valid return. AO’s failure to issue notice...