Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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The Appellate Tribunal considered the validity of final assessment orders passed beyond the limit set by section 144C(13). It was held that the Assessing Officer (AO) must issue the final assessment order within one month of receiving directions from the DRP. In the case of AY 2017-18, the AO passed the final assessment order on 02.01.2023, which was after the prescribed time limit, making it barred by limitation. Similarly, for AY 2018-19, the AO's order on 30.12.2022 was also beyond the limit. Consequently, both orders were quashed as they violated section 144C(13), and the appeal of the assessee was allowed.
The Appellate Tribunal considered the validity of final assessment orders passed beyond the limit set by section 144C(13). It was held that the Assessing Officer (AO) must issue the final assessment order within one month of receiving directions from the DRP. In the case of AY 2017-18, the AO passed the final assessment order on 02.01.2023, which was after the prescribed time limit, making it barred by limitation. Similarly, for AY 2018-19, the AO's order on 30.12.2022 was also beyond the limit. Consequently, both orders were quashed as they violated section 144C(13), and the appeal of the assessee was allowed.
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