ITAT quashes Reassessment Order u/s 147 due to Lack of Jurisdiction and Procedural Defects [Read Order]

The tribunal concluded that the defects were critical and incurable under Section 292B, rendering the reassessment invalid

By Sneha Sukumaran Mullakkal - On October 17, 2024 5:01 pm - 2 mins read

ITAT - Quashes Reassessment - Quashes Reassessment Order - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) quashed the reassessment order under Section 147 of the Income Tax Act,1961 due to lack of jurisdiction and procedural defects. Montreaux Resorts Pvt. Ltd,the appellant assessee challenged the orders of the National Faceless Appeal Centre (NFAC), concerning the assessment year(AY) 2007-08, which included an assessment order dated…

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