ITAT Mumbai Remands ₹53 Lakh Addition Due to Non-Service of Section 143(2) Notice

Nova Elevators Private Limited Vs ITO (ITAT Mumbai) The appeal before the Income Tax Appellate Tribunal (ITAT), Mumbai, arose from an order of the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Year 2014–15, which in turn originated from a reassessment order passed by the Assessing Officer (AO) under Sections 143(3) read with 147 of the Income Tax Act, 1961. The assessee had originally filed its return declaring nil income. Subsequently, the case was reopened under Section 148, and during reassessment, the AO made an addition of ₹53,00,000 under Section 68 as unexplained cash...