Notice served at wrong address renders reassessment proceedings invalid

Suresh Kumar Sheetlani Vs ITO (Allahabad High Court) Conclusion: Since Department had correct address of assessee and sending notice for reassessment at incorrect address drawing a presumption of service of notice was rendered assessment proceedings as invalid. Held: In the instant case, AO issued notice on the ground that assessee had obtained or credited an amount from a company who were providing entries to beneficiaries by showing that the transactions made by them in purchase and sale of shares of certain companies and gifts from certain persons which in fact never took place and found to...