https://www.taxtmi.com/caselaws?id=757717 The ITAT Chennai quashed an assessment order passed under section 143(3) read with section 153C of the Income Tax Act on grounds of limitation. Following the SC decision in CIT vs Jasjit Singh, the tribunal held that for proceedings under section 153C against other persons, the limitation period should be calculated from the date of receiving books of accounts by the AO having jurisdiction over such other person, not from the search date. Since the assessment year in question fell beyond the stipulated six assessment years and four relevant assessment years from December 31, 2021, the notice and subsequent assessment order were time-barred and invalid. en-us Wed, 06 Mar 2024 00:00:00 +0530 Fri, 30 Aug 2024 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757717 The ITAT Chennai quashed an assessment order passed under section 143(3) read with section 153C of the Income Tax Act on grounds of limitation. Following the SC decision in CIT vs Jasjit Singh, the tribunal held that for proceedings under section 153C against other persons, the limitation period should be calculated from the date of receiving books of accounts by the AO having jurisdiction over such other person, not from the search date. Since the assessment year in question fell beyond the stipulated six assessment years and four relevant assessment years from December 31, 2021, the notice and subsequent assessment order were time-barred and invalid. Case-Laws Income Tax Wed, 06 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757717