No 143(2) Notice, No Reassessment: ITAT Quashes Proceedings Despite Delayed ITR

Arun Kumar Maurya Vs ACIT/ITO (ITAT Lucknow) ITAT Quashed Reassessment Due to Failure to Issue Section 143(2) Notice even if ITR filed after time given in notice u/s 148 The appeal before the Income Tax Appellate Tribunal (ITAT), Lucknow, arose from an assessment order passed under Section 147 of the Income Tax Act, 1961, determining the assessee’s income at ₹4.40 crore for Assessment Year 2014–15. The assessee challenged the additions made under Sections 69 and 56(2)(vii)(b), alleging non-consideration of submissions, improper application of amended provisions, failure to refer valuatio...