Income Tax Assessment Quashed as Final Order Was Passed Beyond Statutory Limitation: ITAT Delhi

Rohde And Schwarz India Private Limited Vs Assessment Unit (ITAT Delhi) The Delhi Bench of the Income Tax Appellate Tribunal examined an appeal challenging the validity of a final assessment order passed for Assessment Year 2020–21 under sections 143(3) read with 144C(13) and 144B of the Income Tax Act, 1961. The principal ground raised was that the final assessment order dated 27 July 2024 was barred by limitation, having been passed beyond the statutory time limit prescribed under section 153(1) read with section 153(4) of the Act. The assessee relied on the judgment of the Madras High Cou...