ITAT Quashes Reassessment as ITO Lacked Jurisdiction Under CBDT Instruction No. 1/2011

Advertisement Kshirod Kumar Pattnaik Vs ITO (ITAT Kolkata) The appeal before the Income Tax Appellate Tribunal, Kolkata Bench, arose from the order of the Commissioner of Income Tax (Appeals), Bhubaneswar, for Assessment Year 2012-13. The assessee challenged the reassessment proceedings, the jurisdiction of the Assessing Officer, the additions made towards unexplained investment in fixed deposits and bank interest, and the validity of the assessment completed under sections 144 and 147 of the Income-tax Act. The assessee had originally filed a return of income declaring total income of Rs.3...