https://www.taxtmi.com/caselaws?id=467248 Failure by revenue to initiate fresh assessment proceedings within the statutory limitation after a Tribunal remand extinguishes jurisdiction to reopen assessment; Section 153(5) read with Sections 153(3) and 153(4) prescribes the period which expired without any draft assessment or communication to the assessee, and only Transfer Pricing proceedings under Section 92CA were recorded thereafter without lawful commencement of reassessment. Consequently the later action was without jurisdiction and the assessee is entitled to restitution by refund, leading to allowance of the writ and a directed refund with interest. en-us Thu, 21 Aug 2025 00:00:00 +0530 Wed, 11 Mar 2026 19:07:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467248 Failure by revenue to initiate fresh assessment proceedings within the statutory limitation after a Tribunal remand extinguishes jurisdiction to reopen assessment; Section 153(5) read with Sections 153(3) and 153(4) prescribes the period which expired without any draft assessment or communication to the assessee, and only Transfer Pricing proceedings under Section 92CA were recorded thereafter without lawful commencement of reassessment. Consequently the later action was without jurisdiction and the assessee is entitled to restitution by refund, leading to allowance of the writ and a directed refund with interest. Case-Laws Income Tax Thu, 21 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467248