https://www.taxtmi.com/caselaws?id=761334 The HC allowed the writ petition, quashing the assessment order and related notices for the assessment year 2013-14. The court found that the reassessment order dated 12.05.2023 was invalid as it exceeded the statutory timeline stipulated under Section 153(2) of the Income Tax Act, 1961. The court rejected the applicability of the Taxation & Other Laws (Relaxation & Amendment of Certain Provisions) Act, 2020, as it did not extend the timeline for the notice issued on 29.03.2021. The decision underscores the necessity of adhering to statutory timelines in tax assessment proceedings. en-us Mon, 09 Sep 2024 00:00:00 +0530 Fri, 08 Nov 2024 19:58:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761334 The HC allowed the writ petition, quashing the assessment order and related notices for the assessment year 2013-14. The court found that the reassessment order dated 12.05.2023 was invalid as it exceeded the statutory timeline stipulated under Section 153(2) of the Income Tax Act, 1961. The court rejected the applicability of the Taxation & Other Laws (Relaxation & Amendment of Certain Provisions) Act, 2020, as it did not extend the timeline for the notice issued on 29.03.2021. The decision underscores the necessity of adhering to statutory timelines in tax assessment proceedings. Case-Laws Income Tax Mon, 09 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761334