ITAT Quashes Assessment as Jurisdictional AO Failed to Issue Mandatory Section 143(2) Notice

K.A. Wires Ltd. Vs ITO (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT), Kolkata allowed the assessee’s appeal by holding that the assessment was invalid because the mandatory notice under Section 143(2) of the Income-tax Act, 1961, was not issued by the Assessing Officer having jurisdiction over the assessee. The assessee, engaged in the business of zinc manufacturing, had filed its return for Assessment Year 2012-13 declaring a loss. The Assessing Officer completed the assessment under Section 143(3), determining taxable income after, among other things, making an addition of â‚...