Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
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...
ITAT determined the assessment order under s.153C r/w s.143(3) for AY 2016-17 was barred by limitation. The order dated 21.04.2021 exceeded the statutory deadline of 31.12.2020 by 111 days. Following the legal maxim 'Expressio unius est exclusion alteris', when statute prescribes a specific timeframe, compliance is mandatory and no alternative method is permissible. The assessment should have been completed within prescribed 9 months or 21 months period, whichever is later, per s.153B. Since AO failed to pass the order within statutory limitation period, the assessment was quashed and appellant's appeal was allowed on grounds of time-barred proceedings.
ITAT determined the assessment order under s.153C r/w s.143(3) for AY 2016-17 was barred by limitation. The order dated 21.04.2021 exceeded the statutory deadline of 31.12.2020 by 111 days. Following the legal maxim 'Expressio unius est exclusion alteris', when statute prescribes a specific timeframe, compliance is mandatory and no alternative method is permissible. The assessment should have been completed within prescribed 9 months or 21 months period, whichever is later, per s.153B. Since AO failed to pass the order within statutory limitation period, the assessment was quashed and appellant's appeal was allowed on grounds of time-barred proceedings.
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