Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The ITAT held that the final assessment order passed under section 143(3) read with section 144C(13) was time-barred. The AO was required to complete the assessment within one month from the end of the month in which directions were received from the DRP. Since the DRP issued directions on 21.09.2021, the assessment should have been completed by 31.10.2021. However, the AO passed the final order on 18.11.2021, beyond the prescribed period. Consequently, the tribunal quashed the assessment order as void ab initio for non-compliance with the statutory time limit, allowing the appeal.
The ITAT held that the final assessment order passed under section 143(3) read with section 144C(13) was time-barred. The AO was required to complete the assessment within one month from the end of the month in which directions were received from the DRP. Since the DRP issued directions on 21.09.2021, the assessment should have been completed by 31.10.2021. However, the AO passed the final order on 18.11.2021, beyond the prescribed period. Consequently, the tribunal quashed the assessment order as void ab initio for non-compliance with the statutory time limit, allowing the appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
