Dismissing the appeal filed by the Revenue, the High Court relying on the decision of Calcutta High Court in case of PCIT v. Oberoi Hotels (P.) Ltd. 96 taxmann.com 104 / 409 ITR 132 (Cal)(HC) held that notice u/s 143(2) of the Act was required to be mandatorily issued and Section 292BB had no manner of operation. Omission on the part of the assessing authority to issue notice under section 143(2) cannot be a procedure irregularity and is not curable and, therefore, the requirement of notice u/s 143(2) cannot be dispensed with. (AY. 2012-13)
PCIT v. Cosmat Traders (P.) Ltd. (2022) 291 Taxman 6 (Cal)(HC) Editorial: Order of Tribunal in Cosmat Traders (P) Ltd v. ITO (2021) 189 ITD 504 (Kol)(Trib) is affirmed.
S. 143(3) : Assessment-Jurisdictional issue-Notice issued by an authority who had no jurisdiction at relevant time-Participated in the proceedings-Issue of notice under section 143(2) is not procedural irregularity-Order of Tribunal quashing the order was up held. [S. 143(2), 292BB]