No Fresh U/s 143(2) Needed After Section 263 – ITAT Reverses CIT(A) Revives Assessment

DCIT Vs G Corp Pvt. Ltd. (ITAT Bangalore) No Fresh 143(2) Needed After Section 263 – ITAT Reverses CIT(A) Revives Assessment ITAT Bangalore held that issuance of fresh notice u/s 143(2) is not mandatory when an assessment is framed pursuant to a revisionary order under Section 263, reversing the CIT(A)’s order which had quashed the assessment on this ground. In this case, the original assessment was completed after issuing valid notice under Section 143(2). Subsequently, the PCIT invoked Section 263 and directed the AO to recompute income (specifically, to tax annual value of property)...