Income Tax Assessment Order

[Mihir Modak]

Is it mandatory to pass the Income Tax Order in case assessment proceedings are initiated u/s 143 or 148. In one of the cases the limitation period was 31.03.2024 and order was not passed till that date. The Current Status of the Assessment Proceedings is showing as 'open' on the portal. Any action to be taken by assessee in such case as the proceedings still 'Open'.

AI Summary

Income Tax Order Must Be Issued in Assessment Proceedings Under Sections 143 or 148; Time-Barred Orders Require No Action. An individual inquired whether it is mandatory to pass an Income Tax Order if assessment proceedings are initiated under sections 143 or 148, noting that the limitation period expired without an order being passed, leaving the status as 'open' on the portal. A respondent clarified that it is indeed mandatory for the authority to pass the order. However, since the order is time-barred, the taxpayer does not need to take any action regarding the open status of the proceedings.