Section 148 Reassessment notice invalid if issued by an AO lacking Jurisdiction

Mukesh Kumar Agarwal Vs ITO (ITAT Jaipur) The Income Tax Appellate Tribunal (ITAT) Jaipur ruled in fa-vor of Mukesh Kumar Agarwal in two connected appeals concerning reassessment and penalty proceedings for Assessment Year 2010–11. The assessee challenged the validi-ty of an addition of ₹4,07,000 and ₹36,662 made under Sections 144/147, along with a penalty of ₹2,60,000 under Section 271E of the Income-tax Act. A key argument raised was that the reassessment notice under Section 148 was issued by an Assessing Officer lacking jurisdiction over the case. Additionally, the requisite sanct...