No 143(2), No Reassessment: ITAT Strikes Down ₹2.35 Cr Addition- AO Can’t Use the Return & Skip the Notice

Parama Construction Pvt. Ltd. Vs ITO (ITAT Kolkata) This case deals with a reassessment u/s 147 that was completed without issuing a mandatory notice u/s 143(2)-making the entire assessment void in law. Assessee originally filed its return on 16.03.2012 declaring income of ₹77,360. The case was reopened by issuing notice u/s 148 on 30.03.2016. Assessee filed a return in response on 21.12.2016 declaring the same income. AO treated this return as “non-est” (invalid) because it was filed beyond the time allowed. However, while framing assessment u/s 144/147, AO used the income declared in t...