Time limit for tax assessments requires determination of tax within statutory period, otherwise the assessment may be void. The Board directs that under Section 153 the assessment process must include both passing the assessment order and determining the amount of tax payable within the statutory limitation; failure to determine tax or to issue demand within the period may render the assessment barred by limitation. Income-tax Officers must complete tax calculations and determine tax due within the prescribed time and take immediate action to implement this instruction.
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Provisions expressly mentioned in the judgment/order text.
Time limit for tax assessments requires determination of tax within statutory period, otherwise the assessment may be void.
The Board directs that under Section 153 the assessment process must include both passing the assessment order and determining the amount of tax payable within the statutory limitation; failure to determine tax or to issue demand within the period may render the assessment barred by limitation. Income-tax Officers must complete tax calculations and determine tax due within the prescribed time and take immediate action to implement this instruction.
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