Assessment not challenged, yet revision quashed for invalid scrutiny notice: ITAT Kolkata

Ankur Dealcom Private Limited Vs PCIT (ITAT Kolkata) Assessee filed the return of income declaring total income of ₹9,35,020/-. Return was processed u/s 143(1) & thereafter the case was selected for scrutiny through CASS to verify the transactions of assessee with another company whose registration had been cancelled by the MCA. Scrutiny assessment was completed u/s 143(3) read with section 144B on by NFAC, assessing total income of ₹8,60,49,114/-. Thereafter PCIT issued SCN u/s 263 on the ground of that order passed u/s 143(3) is erroneous & prejudicial to the interest of the Reve...