https://www.taxtmi.com/caselaws?id=766060 ITAT Kolkata held that assessment proceedings under section 153C were invalid due to limitation period expiry. Following SC precedent in ITO vs. Vikram Sujitkumar Bhatia, the tribunal ruled that six assessment years must be computed from the assessment year relevant to the financial year when bogus documents/assets were received. Assessment year 2015-16 fell beyond the permissible six-year period for reopening under section 153C. The assessment order was consequently quashed, with the decision favoring the assessee. en-us Thu, 13 Feb 2025 00:00:00 +0530 Mon, 17 Feb 2025 08:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766060 ITAT Kolkata held that assessment proceedings under section 153C were invalid due to limitation period expiry. Following SC precedent in ITO vs. Vikram Sujitkumar Bhatia, the tribunal ruled that six assessment years must be computed from the assessment year relevant to the financial year when bogus documents/assets were received. Assessment year 2015-16 fell beyond the permissible six-year period for reopening under section 153C. The assessment order was consequently quashed, with the decision favoring the assessee. Case-Laws Income Tax Thu, 13 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766060