Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
Self-assessed import entries remain appealable, while bona fide classification disputes without misdeclaration cannot justify confiscation or penaltie...
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The assessment order passed u/s 144C(3) was beyond the prescribed period of one month from the end of the month in which the period for filing objections u/s 144C(2) expired. Although the assessee filed objections before the Dispute Resolution Panel beyond the 30-day period, the Assessing Officer was still required to pass the final order within the stipulated timeframe u/s 144C(4). The High Court upheld the Tribunal's decision to set aside the final assessment order as being time-barred, rejecting the Revenue's argument that the assessee cannot take advantage of its own delay in filing objections. The statutory language of Section 144C(4) is unambiguous, and the Assessing Officer's failure to comply with the time limit renders the order invalid, irrespective of the assessee's delay.
The assessment order passed u/s 144C(3) was beyond the prescribed period of one month from the end of the month in which the period for filing objections u/s 144C(2) expired. Although the assessee filed objections before the Dispute Resolution Panel beyond the 30-day period, the Assessing Officer was still required to pass the final order within the stipulated timeframe u/s 144C(4). The High Court upheld the Tribunal's decision to set aside the final assessment order as being time-barred, rejecting the Revenue's argument that the assessee cannot take advantage of its own delay in filing objections. The statutory language of Section 144C(4) is unambiguous, and the Assessing Officer's failure to comply with the time limit renders the order invalid, irrespective of the assessee's delay.
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