https://www.taxtmi.com/caselaws?id=451169 Delhi HC held that where AO failed to frame final assessment order by statutory deadline of 31 March 2017 following ITAT remit prior to 1 June 2016, revenue cannot retain amounts deposited by assessee pending assessment proceedings. Court applied Section 153(7) of Income Tax Act, ruling that limitation period for assessment had expired, rendering pending appeals infructuous. HC directed refund of deposited amounts with statutory interest, rejecting revenue's argument that pending appeals justified retention of deposits. en-us Mon, 19 Feb 2024 00:00:00 +0530 Thu, 21 Mar 2024 09:24:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451169 Delhi HC held that where AO failed to frame final assessment order by statutory deadline of 31 March 2017 following ITAT remit prior to 1 June 2016, revenue cannot retain amounts deposited by assessee pending assessment proceedings. Court applied Section 153(7) of Income Tax Act, ruling that limitation period for assessment had expired, rendering pending appeals infructuous. HC directed refund of deposited amounts with statutory interest, rejecting revenue's argument that pending appeals justified retention of deposits. Case-Laws Income Tax Mon, 19 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451169