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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>CBDT Stresses Timely Completion of Tax Assessments u/s 153; Warns Against Delayed Tax Demand Notices.</h1> The circular issued by the Central Board of Direct Taxes (CBDT) emphasizes the importance of adhering to statutory time limits for completing income tax assessments and reassessments under Section 153 of the Income-tax Act, 1961. Citing a Supreme Court ruling, it highlights that assessments are void if tax demand notices are issued beyond the statutory period. The Board instructs tax officers to ensure that both assessment orders and tax determinations are completed within the prescribed timeframe. With upcoming deadlines, officers are urged to finalize tax calculations by March 25, 1972. The Board requests confirmation of compliance with these instructions.
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