Facts in Brief:
1. CIT(A) annulled the assessment.
2. In support of the order of the ld. CIT(A), the assessee has filed cross objection. ITAT held,
3. we find that undisputedly the first notice under section 143(2) of the Act was issued by the Income Tax Officer and at the relevant point of time, in view of the Instruction of the CBDT, the Income Tax Officer was not having jurisdiction over the assessee, as the assessee's returned income is more than Rs.10 lakhs and the jurisdiction over the assessee lies with the ACIT/DCIT.
4. The second notice issued by the ACIT is admittedly barred by limitation. Therefore, the jurisdiction was assumed to complete the assessment over the assessee through an invalid notice by an incompetent Officer.
5. In the light of these facts, we are of the view that the assessment framed consequent to an invalid notice is not a valid assessment and deserves to be quashed.
6. We accordingly find no infirmity in the order of the ld. CIT (A) and we confirm the same.