Assessment proceedings based on invalid notice is liable to be quashed: ITAT Kolkata

Shree Shoppers Ltd. Vs DCIT (ITAT Kolkata) ITAT Kolkata held that notice issued under section 143(2) of the Income Tax Act by AO not having valid jurisdiction is not sustainable in law. Accordingly, assessment proceeding based on an invalid notice is liable to be quashed. Facts- The assessee is a limited company engaged in the business of trading in textile and tyres. Case of the assessee was selected for scrutiny under CASS followed by service of notice u/s. 143(2) and 142(1) of the Act. Assessee has challenged the issuance of notice u/s. 143(2) of the Act stating that the AO issued the notic...