Section 127 Transfer Renders Previous Officer Powerless to act on transferred case

OSL Developers Pvt. Ltd. Vs ITO (ITAT Kolkata) In a significant ruling by the Income Tax Appellate Tribunal (ITAT) Kolkata, the assessment order issued by the Income Tax Officer (ITO), Ward-5(3), Kolkata, against OSL Developers Pvt. Ltd. for the Assessment Year 2008-09 has been quashed due to a lack of proper jurisdiction. The decision, dated December 3, 2020, in the case of OSL Developers Pvt. Ltd. Vs ITO (ITAT Kolkata), underscores the critical importance of jurisdictional adherence within the Income Tax Act, 1961. The case originated from an appeal filed by OSL Developers Pvt. Ltd. (formerl...