Bombay HC Quashes Assessment as Mandatory Section 144B Procedure Was Not Followed

Advertisement Abacus Real Estate Pvt Ltd. Vs DCIT (Bombay High Court) The petitioner challenged the assessment order, demand notice, and penalty notice, all dated 19.04.2021 for Assessment Year 2018-19, on the ground that the respondents had failed to follow the mandatory procedure prescribed under Section 144B of the Income-tax Act, 1961. The petitioner contended that no show-cause notice along with a draft assessment order had been served despite the proposed variations being prejudicial to its interests. It argued that this denied it the statutory opportunity to explain why the proposed ...