Reassessment without issuance of mandatory notice u/s 143(2) was invalid

ACIT Vs M/s. Sukhamani Cotton Industries (ITAT Indore)

Conclusion: Reassessment order passed u/s 147 r.w.s 143(3) by issuing notice under section 148 but without issuance of notice u/s 143(2)  was invalid and void ab initio and thus liable to be quashed.

Held: AO reopened assessment by issuance of notice u/s 148 on the basis of information received from DCIT investigation Mumbai for the alleged bogus purchases. Immediately, after issuance of notice u/s 148 and recording reasons the assessment proceed

Please become a Premium member. If you are already a Premium member, login here to access the full content.