https://www.taxtmi.com/caselaws?id=301291 The High Court held that the Assessing Officer lacked jurisdiction to proceed with the assessment as the notice under s. 143(2) of the IT Act was issued beyond the prescribed 12-month period. Consequently, the assessment order, along with the orders of the first appellate authority and the Tribunal, were deemed unsustainable. The Court rejected the Department's argument regarding the preclusion of challenging the notice's service and allowed the appeal in favor of the assessee, quashing the previous orders and assessment due to the absence of a timely notice under s. 143(2) of the Act. en-us Mon, 16 Nov 2015 00:00:00 +0530 Fri, 25 Mar 2022 08:33:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301291 The High Court held that the Assessing Officer lacked jurisdiction to proceed with the assessment as the notice under s. 143(2) of the IT Act was issued beyond the prescribed 12-month period. Consequently, the assessment order, along with the orders of the first appellate authority and the Tribunal, were deemed unsustainable. The Court rejected the Department's argument regarding the preclusion of challenging the notice's service and allowed the appeal in favor of the assessee, quashing the previous orders and assessment due to the absence of a timely notice under s. 143(2) of the Act. Case-Laws Income Tax Mon, 16 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301291