Tribunal Deletes ₹2.14 Crore Addition Due to Invalid Pre-Notification NFAC Action

Albatross Investment Pvt. Ltd. Vs ITO (ITAT Kolkata) Notice Issued by NFAC Pre-Notification Invalid — Addition of ₹2.14 Cr Deleted- NFAC Had No Jurisdiction Before 29-03-2022 — Faceless Assessment Without Notification- ITAT Kolkata Quashes Reassessment Order Assessee raised an additional legal ground challenging jurisdiction of NFAC to frame a reassessment order dated 22.09.2021 u/s 147 r/w 144B. The argument was that NFAC had no authority to issue notices or complete reassessment before 29.03.2022, when CBDT notified the provisions of Section 151A governing faceless reassessment. The re...