ITAT Kolkata Quashes ITO’s 148 Notice for Ignoring CBDT Pecuniary Limits

Vinod Kumar Giri Vs ITO (ITAT Kolkata) CBDT Limits overlooked -Pecuniary jurisdiction of AC/DC ignored – ITAT Kolkata strikes down ITO’s 148 Notice Assessee filed return declaring Rs 30,88,650. AO, based on DDIT(Inv) information, initiated proceedings u/s 148A & in the absence of reply, issued notice u/s 148. AO made addition of Rs 92,95,020 as unexplained credit u/s 68. CIT(A) dismissed appeal ex parte. Assessee challenged order by taking legal ground that ITO, Ward-47(1), Kolkata had no pecuniary jurisdiction to issue notice u/s 148 since, as per CBDT Instruction 1/2011 & Notific...