Holiday-Day Limitation Computation Preserves Timely Objections and Prevents Final Assessment From Being Issued Without Mandatory Review Directions

Holiday-Day Limitation Computation Preserves Timely Objections and Prevents Final Assessment From Being Issued Without Mandatory Review Directions https://www.taxtmi.com/highlights?id=104362 Limitation computation treats an objection filed on the next working day as timely where the statutory final day falls on a Sunday. Under section 144C, a timely objection requires the Assessing Officer to await binding Dispute Resolution Panel directions before making a final assessment. Rejection of the objection as time-barred led to the final assessment being quashed, with the objection requiring merits-based consideration after hearing the assessee. Consequential penalty proceedings remain stayed until completion of that adjudication. en-us Wed, 30 Sep 2026 08:41:54 +0530 Wed, 30 Sep 2026 08:41:56 +0530 TaxTMI RSS Generator Holiday-Day Limitation Computation Preserves Timely Objections and Prevents Final Assessment From Being Issued Without Mandatory Review Directions https://www.taxtmi.com/highlights?id=104362 Limitation computation treats an objection filed on the next working day as timely where the statutory final day falls on a Sunday. Under section 144C, a timely objection requires the Assessing Officer to await binding Dispute Resolution Panel directions before making a final assessment. Rejection of the objection as time-barred led to the final assessment being quashed, with the objection requiring merits-based consideration after hearing the assessee. Consequential penalty proceedings remain stayed until completion of that adjudication. Highlights Income Tax Wed, 30 Sep 2026 08:41:54 +0530 https://www.taxtmi.com/highlights?id=104362