Jurisdictional Deficiency in Notice u/s 143(2) Renders Assessment Order Liable for Quashing

Monarch & Qureshi Builders Vs ACIT (ITAT Mumbai) Introduction: In a recent case, Monarch & Qureshi Builders contested an order by the Income Tax Appellate Tribunal (ITAT) Mumbai, challenging the jurisdictional deficiency in the Section 143(2) notice. The case delves into issues arising from an assessment for the A.Y. 2014-15 and the subsequent quashing of the assessment order. Detailed Analysis: The dispute originated when the Assessee, Monarch & Qureshi Builders, declared income and faced scrutiny under CASS. The Assessing Officer made significant additions under Section 43CA of...