Entire reassessment proceeding illegal without issuance of notice u/s. 143(2)

ACIT Vs Suresh Productions (ITAT Hyderabad) ITAT Hyderabad held that entire re-assessment proceeding is illegal and deserves to be quashed in absence of mandatory issue of notice under section 143(2) of the Income Tax Act. Facts- The assessee is a partnership firm engaged in film production. It filed its return on 27.11.2003. The original assessment was completed on 17.11.2005 with an addition of Rs.4,11,133/-. Subsequently, it was noticed that the assessee made a wrong claim to the tune of Rs.1,50,00,000/- emanating from the agreement dated 01.04.2002. Therefore, the assessment was reopened b...