https://www.taxtmi.com/caselaws?id=441481 The HC ruled that the final assessment order was time-barred as it was not passed within the prescribed limitation period under Section 153 of the Income Tax Act, 1961. Consequently, the Return of Income filed by the Petitioners was accepted. The court dismissed the related writ petitions, allowing the Petitioners' returns to be accepted and permitting the Revenue to pursue further actions in accordance with the law. The court emphasized the necessity for the Assessing Officer to adhere to procedural requirements and act promptly within the statutory time limits. en-us Fri, 04 Aug 2023 00:00:00 +0530 Wed, 21 Aug 2024 12:54:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441481 The HC ruled that the final assessment order was time-barred as it was not passed within the prescribed limitation period under Section 153 of the Income Tax Act, 1961. Consequently, the Return of Income filed by the Petitioners was accepted. The court dismissed the related writ petitions, allowing the Petitioners' returns to be accepted and permitting the Revenue to pursue further actions in accordance with the law. The court emphasized the necessity for the Assessing Officer to adhere to procedural requirements and act promptly within the statutory time limits. Case-Laws Income Tax Fri, 04 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441481