https://www.taxtmi.com/caselaws?id=777337 HC quashed the assessment notice dated 06.11.2020 as time-barred, holding Section 153(7) (as amended by the Finance Act, 2016) applied and required completion of the fresh assessment directed by the Tribunal on or before 31.03.2017. The court relied on the Memorandum to the Finance Act, 2016 to resolve ambiguity between subsections (7) and (9), rejected Revenue's contention that the Tribunal's direction could be given effect at any time under Section 153(3)(ii), and decided the matter in favour of the assessee. en-us Wed, 06 Aug 2025 00:00:00 +0530 Thu, 28 Aug 2025 08:32:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777337 HC quashed the assessment notice dated 06.11.2020 as time-barred, holding Section 153(7) (as amended by the Finance Act, 2016) applied and required completion of the fresh assessment directed by the Tribunal on or before 31.03.2017. The court relied on the Memorandum to the Finance Act, 2016 to resolve ambiguity between subsections (7) and (9), rejected Revenue's contention that the Tribunal's direction could be given effect at any time under Section 153(3)(ii), and decided the matter in favour of the assessee. Case-Laws Income Tax Wed, 06 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777337