TaxTMI 
TaxTMI 
TaxTMI 
2026 (4) TMI 274
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....e-tax Appellate Tribunal, Mumbai ("Tribunal") within the prescribed limitation under Section 153 of the Income-tax Act, 1961 ("Act"), for Assessment Year ("AY") 2013-14. 3. The Petitioner has contended that the proceedings before Respondent No. 1 pursuant to the order of the Tribunal dated 26th November 2021 have become barred by limitation in view of Section 153(3) read with Section 153(4) of the Act. It is on this basis that the Petitioner has sought relief in terms of prayer clause (a) of the Writ Petition which reads as under: "(a) that this Hon'ble Court may be pleased to issue a writ of mandamus or a writ in the nature of mandamus or any other appropriate writ, order or direction under Article 226 of the Constitution of In....
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....adjudication. 6. In the present writ petition, the Petitioner has contended that Respondent No. 1 was required to pass an assessment order pursuant to the remand by the Tribunal by 31st March 2024, in terms of the limitation prescribed in Sections 153(3) r.w.s. 153(4) of the Act. However, no such assessment order has been passed by 31st March 2024. 7. The Petitioner has further submitted that since Respondent No. 1 did not pass any assessment order until 31st March 2024, it vide letters dated 10th October 2024, 18th November 2024, 01st August 2025 and 02nd January 2026, requested Respondent No. 1 to accept its return of income. However, Respondent No. 1 did not act upon those letters. Hence, the present writ petition. 8. Accordingl....
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....be, ... on or after the 1st day of April, 2019, the provisions of this subsection shall have effect, as if for the words "nine months", the words "twelve months" had been substituted. ... ... (4) Notwithstanding anything contained in subsections (1), (1A), (2), (3) and (3A), where a reference under sub-section (1) of section 92CA is made during the course of the proceeding for the assessment or reassessment, the period available for completion of assessment or reassessment, as the case may be, under the said sub-sections (1), (1A), (2), (3) and (3A), shall be extended by twelve months." 11. Section 153(3) of the Act inter-alia provides that where the Tribunal has set aside the assessment made by the AO or the order of t....
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....2023 Limitation as per Section 153(4) Extended by 12 months on account of reference to Transfer Pricing Officer 31.03.2024 14. Mr. Mishra accepts that no assessment order pursuant to the remand by the Tribunal has in fact been passed by Respondent No. 1 by 31st March 2024. However, he contends that the return of income filed by the Petitioner cannot be accepted as such. In this regard, he submitted that the Tribunal had restricted the transfer pricing adjustment on corporate guarantee to 0.50% as against 1.50% made by the TPO. Therefore, there was final determination by the Tribunal on this issue. Hence, the absence of order giving effect to the order of Tribunal would not have the effect of disturbing / nullifying the findings on ....
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....ment after the earlier assessment made is set aside or nullified in appropriate proceedings? If the assessing authority cannot make a fresh assessment in accordance with the provisions of the Act it amounts to deemed acceptance of the return of income furnished by the assessee. In such a case the assessing authority is denuded of its authority to verify the correctness and completeness of the return, which authority it has while framing a regular assessment. It must accept the return as furnished and shall not in any event raise a demand for payment of further taxes. Accepting the income as disclosed in the return of income furnished by the assessee, it must refund to the assessee any tax paid in excess of the liability incurred by him on t....
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....4 January 1999 was served upon the Assessing Officer with a copy of this petition some time in 2005 and since then no order of assessment has yet been passed by the Assessing Officer. Once CIT(A) has remanded the proceedings to the Assessing Officer for passing a fresh assessment order it is not open to the Assessing Officer not to carry out the directions of the CIT (A) to the detriment of the assessee. If the revenue's submission that no refund can be granted to an assessee consequent to an order passed in an appeal unless the Assessing Officer passes a fresh assessment order is accepted then in that event Revenue would be able to deprive all assessees of their property without the authority of law by merely stating that it are helple....