NFAC and Jurisdictional Assessing Officer hold concurrent jurisdiction: Delhi HC

T.K.S. Builders Pvt. Ltd. Vs ITO (Delhi High Court) Delhi High Court held that the NFAC and the Jurisdictional Assessing Officer (JAO) hold concurrent jurisdiction. Thus, reassessment notice u/s. 148 issued by JAO is within jurisdiction and thus sustainable in law. Facts- Vide the present petition, the petitioner assail the validity of reassessment action initiated under Section 148 of the Income Tax Act, 1961. Although that action is impugned on various grounds, however, the petitioners have confined their submissions to the issue of whether a notice issued by the Jurisdictional Assessing Off...