Assessment order passed without serving notice under section 143(2) is liable to be quashed

Seema A Talesara Vs ITO (ITAT Mumbai) ITAT Mumbai held that passing of assessment order without mandatory service of notice under section 143(2) of the Income Tax Act is unjustified. Accordingly, assessment order being passed sans serving notice u/s 143(2) of the Act, is liable to be quashed. Facts- During the course of scrutiny assessment, AO observed that Assessee has shown long term capital gain income of Rs.97,15,890/- and the same has been claimed as exempt. The said long term capital gain income is earned on account of sale of shares of M/s Kadwani Securities Ltd and Lifeline Drugs and P...