Addition on Sale of Partner’s Property Sold before issuance of Notice u/s 148 of Income Tax Act: ITAT quashes Re-assessment Proceedings against Firm [Read Order]

The assessee firm was not existent in that address and the notice under Section 148 of the Income Tax Act had to be returned undelivered by the postal authorities
ITAT - Income tax act - ITAT delhi - Partners property - sold properties - TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the reassessment proceedings, noting that the firm used a partner’s property as its address, but the property had been sold before the issuance of the notice under Section 148 of the Income Tax Act, 1961. The assessee Chaudhary Stone Crusher was a…

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