ITAT Quashes Assessment & Revision Proceedings Due to Invalid Section 143(2) Notice Format

Nadia District Central Cooperative Bank Ltd. Vs PCIT (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT) Kolkata Bench has nullified a revisionary order issued by the Principal Commissioner of Income Tax (PCIT) against Nadia District Central Cooperative Bank Ltd. for the Assessment Year (AY) 2018-19. The Tribunal’s decision hinged on a fundamental flaw in the original assessment process: the notice issued by the Assessing Officer (AO) under Section 143(2) of the Income Tax Act, 1961, was found to be invalid. The case originated from an appeal by the assessee challenging the PCIT̵...