https://www.taxtmi.com/caselaws?id=200512 The ITAT decision to set aside the assessment for estimation of income on account of bogus/unverifiable purchases was analyzed. The Revenue challenged the setting aside of the assessment for an uncertain future event and argued that assessments must be completed within the prescribed time under Section 153(2A) of the IT Act, 1961. The Co-ordinate Bench's decision to postpone the assessment until a specific judgment was delivered was also contested by the Revenue. Ultimately, the ITAT recalled the order and directed a fresh hearing, taking into account the procedural and legal considerations of the case. en-us Fri, 14 Oct 2016 00:00:00 +0530 Sun, 01 Apr 2018 07:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200512 The ITAT decision to set aside the assessment for estimation of income on account of bogus/unverifiable purchases was analyzed. The Revenue challenged the setting aside of the assessment for an uncertain future event and argued that assessments must be completed within the prescribed time under Section 153(2A) of the IT Act, 1961. The Co-ordinate Bench's decision to postpone the assessment until a specific judgment was delivered was also contested by the Revenue. Ultimately, the ITAT recalled the order and directed a fresh hearing, taking into account the procedural and legal considerations of the case. Case-Laws Income Tax Fri, 14 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200512