Faceless Regime Prevails: Reassessment by Jurisdictional AO Held Void

Flint Power Tools (P) Ltd. Vs ACIT (ITAT Delhi) Faceless Regime Prevails- Reassessment by Jurisdictional AO Held Void – ITAT Delhi Quashes Notice u/s 148 Issued After NFAC Notification Issue Whether the reassessment proceedings initiated u/s 148 by the jurisdictional AO were void for lack of authority under Section 151A, in view of CBDT’s 2022 Notification assigning such powers exclusively to the National Faceless Assessment Centre (NFAC). Facts Assessee, Flint Power Tools Pvt. Ltd., engaged in manufacturing power tools, was subjected to search u/s 132 on 10.11.2021 as part of the LSL Too...