https://www.taxtmi.com/caselaws?id=771399 The HC ruled that assessment proceedings for AY 2006-07 are time-barred under Section 153 of the Income Tax Act due to the Assessing Officer's failure to pass a consequential order within the prescribed limitation period. The court directed the Revenue to process the taxpayer's refund claim expeditiously, within twelve weeks, along with applicable interest, effectively deeming the original tax return as accepted by operation of law. en-us Fri, 09 May 2025 00:00:00 +0530 Sat, 24 May 2025 09:00:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771399 The HC ruled that assessment proceedings for AY 2006-07 are time-barred under Section 153 of the Income Tax Act due to the Assessing Officer's failure to pass a consequential order within the prescribed limitation period. The court directed the Revenue to process the taxpayer's refund claim expeditiously, within twelve weeks, along with applicable interest, effectively deeming the original tax return as accepted by operation of law. Case-Laws Income Tax Fri, 09 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771399