Delay In Issuing S143(2) Notice; ITAT Quashes Income Tax Reassessment Order

ITAT quashed an income tax reassessment order due to undue delay in issuing the Section 143(2) notice. The tribunal emphasized the requirement of timely issuance of statutory notices as per the Income Tax Act, underscoring procedural fairness. The ruling provides taxpayers with assurance that delays in administrative actions can invalidate reassessment proceedings, strengthening principles of due process and safeguarding against arbitrary enforcement by tax authorities.