Issuance of notice U/s 143(2) prior to supply of recorded reasons U/s 147 is fatal & may vitiate entire reassessment

 

 

Issuance of notice under section 143(2) prior to supply of recorded reasons under section 147 has been held to be a fatal procedural lapse vitiating the entire reassessment. The ITAT (Delhi Bench) in Diamond Realcon Pvt. Ltd. v. ACIT accepted that even assuming reasons were later supplied, the prior 143(2) notice effectively denied the assessee a meaningful opportunity to challenge the very assumption of jurisdiction, thereby violating statutory safeguards and rendering the reassessment order invalid. Para 20

The copy of the order is as under:

1764912036-qg2KTQ-1-TO