Scrutiny assessment bad in law if Section 143(2) notice was Time-Barred

Osian Stock Broking Pvt. Ltd. Vs ITO (ITAT Kolkata)

In the recent case of Osian Stock Broking Pvt. Ltd. Vs ITO, the Income Tax Appellate Tribunal (ITAT) Kolkata nullified an addition due to the late issuance of Notice under Section 143(2) of the Income Tax Act. The ITAT concluded that the Notice was sent beyond the specified deadline, making the assessment void ab initio.

Analysis: The ITAT Kolkata carefully examined the arguments put forth by both the assessee and the Departmental Represe

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