https://www.taxtmi.com/caselaws?id=762613 ITAT Hyderabad quashed the final assessment order dated 08.01.2024 passed under Section 147 read with Section 144C(13) for A.Y. 2016-17 as barred by limitation. The tribunal held that extended time limit of 12 months for completion of assessment is not available for non-resident assessments except in cases of TPO reference. Since notice under Section 148 was served in March 2021, the assessment should have been completed by 31.03.2023 as per Section 153(2), making the January 2024 order time-barred. en-us Fri, 29 Nov 2024 00:00:00 +0530 Tue, 03 Dec 2024 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762613 ITAT Hyderabad quashed the final assessment order dated 08.01.2024 passed under Section 147 read with Section 144C(13) for A.Y. 2016-17 as barred by limitation. The tribunal held that extended time limit of 12 months for completion of assessment is not available for non-resident assessments except in cases of TPO reference. Since notice under Section 148 was served in March 2021, the assessment should have been completed by 31.03.2023 as per Section 153(2), making the January 2024 order time-barred. Case-Laws Income Tax Fri, 29 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762613