https://www.taxtmi.com/caselaws?id=391819 The tribunal upheld the CIT(A)'s decision to quash the assessment as it was not framed within the prescribed time limit. The reassessment order served after 140 days was deemed unsustainable, leading to its quashing and rendering other merit-based issues moot. The Revenue's argument citing a high court decision was dismissed for failing to prove compliance with the statutory time limit. The assessing officer's failure to provide evidence countering the assessee's claim resulted in the assessment order's invalidation. en-us Wed, 05 Feb 2020 00:00:00 +0530 Thu, 06 Feb 2020 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391819 The tribunal upheld the CIT(A)'s decision to quash the assessment as it was not framed within the prescribed time limit. The reassessment order served after 140 days was deemed unsustainable, leading to its quashing and rendering other merit-based issues moot. The Revenue's argument citing a high court decision was dismissed for failing to prove compliance with the statutory time limit. The assessing officer's failure to provide evidence countering the assessee's claim resulted in the assessment order's invalidation. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391819