JAOs, FAOs Have Concurrent Jurisdiction To Issue Income Tax Notices Under Faceless Scheme: Madras High Court

In a significant ruling, the Madras High Court has upheld the concurrent jurisdiction of both the Jurisdictional Assessing Officer (JAO) and the Faceless Assessment Officer (FAO) in conducting assessments, re-assessments, and re-computations under the Income Tax Act, 1961. The Court, in its judgment dated December 20, 2024, dismissed a petition filed by Mark Studio India, a Chennai-based film equipment rental firm, which had challenged the assessment and re-assessment notices issued…