Section 124 of ITA, 1961 : Section 124: Jurisdiction Of Assessing Officers

Explanation using Example

Imagine a business owner, Mr. Gupta, who operates a chain of retail stores across different regions in India. The principal place of his business is located in Mumbai. According to Section 124 of the Income-tax Act, 1961, the Assessing Officer (AO) with jurisdiction over Mumbai would be responsible for assessing Mr. Gupta's taxes since his principal place of business is situated within that area.

One day, Mr. Gupta receives a notice from an AO based in Delhi, questioning certain transactions. Confused, Mr. Gupta believes that the Delhi AO does not have jurisdiction over his tax matters. He can raise this question ...

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