Assessment Held Void for Skipping Statutory Notice Under Section 143(2): ITAT Agra

Prem Lata Verma Vs DCIT (ITAT Agra) Reassessment Quashed for Non-Issuance of Mandatory Notice u/s 143(2); Entire Addition of ₹4 Crore u/s 68 Set Aside – ITAT Agra The Agra Bench of the ITAT allowed the assessee’s appeal and quashed the entire reassessment for AY 2016-17 on the ground that the Assessing Officer failed to issue the mandatory statutory notice under section 143(2), rendering the assessment proceedings null and void. The case was reopened under section 147 based on election affidavit disclosures regarding large loans advanced by the assessee to group entities. The AO complete...