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The reassessment was annulled after the notice was found procedurally defective. The Tribunal affirmed that binding High Court precedent required issuance by a faceless AO.
The reassessment was initiated beyond the permissible time frame. The Tribunal declared the entire proceedings void from inception. The key lesson is that jurisdictional defects render reassessments unenforceable.
The Tribunal held that reassessment fails when the show-cause notice is issued on an incorrect factual premise. Jurisdiction under section 147 collapses if the foundation under section 148A is flawed.
The Tribunal held that when stamp duty value is disputed, the Assessing Officer must refer the matter to the DVO. Fair market value determination is mandatory before sustaining a Section 50C addition.
Authorities found the land had been sold decades earlier and the MOU acknowledged no possession or rights. The Tribunal affirmed taxation under section 56. The ruling clarifies that an MOU cannot convert non-rights into capital receipts.
The reassessment was struck down as sanction was obtained from a Principal Commissioner instead of the competent authority under Section 151. Jurisdictional defect invalidated all subsequent proceedings.
The Tribunal held that a general survey admission by the seller cannot justify additions in every buyers case. Documentary proof of purchases and sales outweighed unsupported allegations.
The Tribunal held that an unsigned notice under Section 148 is invalid and does not confer jurisdiction on the Assessing Officer. Consequently, the entire reassessment and additions were quashed as void ab initio.
The Tribunal held that once reassessment is validly initiated, the Assessing Officer can tax any escaped income discovered later. Additions need not relate to the original reopening reason.
The Tribunal held that absence of a mandatory notice under Section 143(2) vitiates the entire reassessment. Participation by the assessee cannot cure a jurisdictional defect.
