https://www.taxtmi.com/caselaws?id=18847 The High Court of Allahabad ruled that fresh assessments under section 153 of the Income-tax Act, 1961 must be completed within two years of the Commissioner's order u/s 263, rejecting the argument that the time limit was discretionary. The court found the assessments made on March 28, 1977, to be time-barred as they exceeded the prescribed deadline of March 31, 1976. Consequently, the court sided with the assessee, holding that the Assessing Officer must adhere to the mandatory time limit for fresh assessments, thereby ruling against the Revenue in the case. en-us Mon, 28 Aug 1995 00:00:00 +0530 Mon, 02 Nov 2009 13:20:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18847 The High Court of Allahabad ruled that fresh assessments under section 153 of the Income-tax Act, 1961 must be completed within two years of the Commissioner's order u/s 263, rejecting the argument that the time limit was discretionary. The court found the assessments made on March 28, 1977, to be time-barred as they exceeded the prescribed deadline of March 31, 1976. Consequently, the court sided with the assessee, holding that the Assessing Officer must adhere to the mandatory time limit for fresh assessments, thereby ruling against the Revenue in the case. Case-Laws Income Tax Mon, 28 Aug 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18847