https://www.taxtmi.com/caselaws?id=204836 The court held that the assessment was not time-barred under section 153 of the Income-tax Act. It determined that the Assessing Officer had the authority to extend the time for furnishing the audit report based on the auditor's request, if reasonable and justified. The court emphasized giving full effect to legislative intent to achieve the intended objective. Consequently, the assessment completed on September 3, 1998, within the extended period allowed by the Assessing Officer was deemed valid. The court vacated the previous orders and restored the case for a decision on the merits. en-us Tue, 02 Nov 2010 00:00:00 +0530 Fri, 21 Dec 2012 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204836 The court held that the assessment was not time-barred under section 153 of the Income-tax Act. It determined that the Assessing Officer had the authority to extend the time for furnishing the audit report based on the auditor's request, if reasonable and justified. The court emphasized giving full effect to legislative intent to achieve the intended objective. Consequently, the assessment completed on September 3, 1998, within the extended period allowed by the Assessing Officer was deemed valid. The court vacated the previous orders and restored the case for a decision on the merits. Case-Laws Income Tax Tue, 02 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204836