SC Allows Income Tax Assessment as Jurisdiction Objection Was Not Raised Within Section 124(3)(a) Time Limit

DCIT Vs Kalinga Institute of Industrial Technology (Supreme Court of India) The dispute arose from the assessment for Assessment Year 2014-15, in which the assessee challenged the assessment order dated 30.12.2016, the consequential demand under Section 156 of the Income Tax Act amounting to ₹24,96,42,960, and the notice issued under Section 143(2), alleging that they were without jurisdiction and violative of the principles of natural justice. Before the High Court, the Joint Commissioner of Income Tax (OSD) (Exemption), Bhubaneswar, filed an affidavit stating that jurisdiction over the ass...