https://www.taxtmi.com/caselaws?id=774560 ITAT Hyderabad held that the Final Assessment Order dated 29.12.2023 was barred by limitation under section 153(2). The notice under section 148 was issued on 30.03.2021, requiring completion of assessment within two years from the end of the financial year, i.e., by 31.03.2023. Since the AO passed the order on 29.12.2023, it exceeded the statutory time limit. The tribunal quashed the assessment order as invalid and void ab initio, allowing the assessee's appeal. en-us Wed, 09 Jul 2025 00:00:00 +0530 Thu, 10 Jul 2025 13:00:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774560 ITAT Hyderabad held that the Final Assessment Order dated 29.12.2023 was barred by limitation under section 153(2). The notice under section 148 was issued on 30.03.2021, requiring completion of assessment within two years from the end of the financial year, i.e., by 31.03.2023. Since the AO passed the order on 29.12.2023, it exceeded the statutory time limit. The tribunal quashed the assessment order as invalid and void ab initio, allowing the assessee's appeal. Case-Laws Income Tax Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774560