https://www.taxtmi.com/caselaws?id=56998 The Tribunal upheld the decision of the CIT(A) regarding the validity of an assessment order under section 143(3)/147. The assessment, completed on 25-2-1991, was deemed invalid as it exceeded the two-year limit for reassessment from the end of the financial year in which the notice under section 148 was served on 30-3-1988. The Tribunal emphasized that the law prevailing at the time of the order governs the limitation period, leading to the dismissal of the Revenue's appeal. The judgment highlights the significance of legal provisions and the retrospective application of laws in assessing validity under the Income-tax Act, 1961. en-us Fri, 25 Feb 2000 00:00:00 +0530 Tue, 07 Dec 2010 17:17:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56998 The Tribunal upheld the decision of the CIT(A) regarding the validity of an assessment order under section 143(3)/147. The assessment, completed on 25-2-1991, was deemed invalid as it exceeded the two-year limit for reassessment from the end of the financial year in which the notice under section 148 was served on 30-3-1988. The Tribunal emphasized that the law prevailing at the time of the order governs the limitation period, leading to the dismissal of the Revenue's appeal. The judgment highlights the significance of legal provisions and the retrospective application of laws in assessing validity under the Income-tax Act, 1961. Case-Laws Income Tax Fri, 25 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56998