The assessment was set aside as the Revenue produced no acknowledgment of service. The ruling reiterates that service of notice is foundational to reassessment.
The Tribunal held that the first appellate authority has a statutory duty to decide grounds on merits and cannot dismiss them as not adjudicated for want of details. Orders violating sections 250(6) and 251(1) were set aside and remanded for fresh adjudication.
The Tribunal held that reassessment under Sections 147/144B is void if no notice under Section 143(2) is issued. Acting on a return filed or adopted in response to Section 148 triggers mandatory jurisdictional compliance.
The Tribunal held that extended block assessment beyond six years is invalid where escaped income is below ₹50 lakh. Jurisdiction under Sections 153A/153C cannot be assumed without meeting statutory limits.
Where real estate sale proceeds and donations are transparently reflected in financial statements, unexplained money provisions fail. The decision reinforces limits on Revenues powers based on conjecture.
ITAT affirmed that assessments for block period years must be framed only under Section 153C. Any assessment completed under Section 143(3) during such period is void in law.
The tribunal ruled that reassessment notices for AY 2015-16 issued after 31 March 2022 are barred by limitation. The key takeaway is that TOLA extensions do not apply to this assessment year.
The penalty was quashed as the Assessing Officer failed to strike off the inapplicable limb in the notice. Clear satisfaction and precise charge are mandatory for sustaining penalty proceedings.
The Tribunal held that assessments under Section 153A cannot be sustained when no incriminating material is found at the assessees premises. Additions based on third-party material were quashed as being without jurisdiction.
The Tribunal ruled that treating a belated return as non est is legally unsustainable. Absence of a Section 143(2) notice invalidates the entire reassessment proceedings.
