https://www.taxtmi.com/caselaws?id=5627 SC interpreted "assessment proceeding" in Explanation 1 to section 153 of the Income-tax Act, 1961, to cover the entire continuum from filing of return or issuance of notice under sections 139/142(1) up to passing of the assessment order under sections 143(3) or 144. It held that an order staying the passing of the final assessment order constitutes a stay of assessment proceedings for limitation purposes. Consequently, the period during which the HC's stay order operated must be excluded in computing the limitation for assessment, rendering the assessments within time. The appeals were dismissed, and the Assessing Officer was granted four months to complete the assessments pursuant to the impugned notices. en-us Wed, 23 Apr 1997 00:00:00 +0530 Tue, 16 Dec 2025 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5627 SC interpreted "assessment proceeding" in Explanation 1 to section 153 of the Income-tax Act, 1961, to cover the entire continuum from filing of return or issuance of notice under sections 139/142(1) up to passing of the assessment order under sections 143(3) or 144. It held that an order staying the passing of the final assessment order constitutes a stay of assessment proceedings for limitation purposes. Consequently, the period during which the HC's stay order operated must be excluded in computing the limitation for assessment, rendering the assessments within time. The appeals were dismissed, and the Assessing Officer was granted four months to complete the assessments pursuant to the impugned notices. Case-Laws Income Tax Wed, 23 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5627