Assessment Crumbles as AO Ignores Faceless Mandate- Jurisdictional AO Has No Power to Reopen Post March 2022

DCIT Vs Seth Industrial Corporation (ITAT Chandigarh) Assessee is engaged in manufacturing of bicycles & had filed its return on 03.09.2018. Subsequently, a search u/s 132 was conducted on 21.10.2021 on the group. Based on search findings, notice u/s 148A(b) was issued on 24.03.2022 & thereafter, notice u/s 148 was issued on 06.04.2022. These notices were issued by DCIT, Central Circle-3, Ludhiana, who is the Jurisdictional AO. Reassessment u/s 147 was completed on 24.08.2023 wherein twin additions of ₹1.30 crore & ₹21.58 lakh were made u/s 69 r.w.s 115BBE. In appeal, CIT(A) de...