ITAT Kolkata quashed Reassessment as Time-Barred Due to Expiry of Limitation Period

Nezone Tubes Limited Vs DCIT (ITAT Kolkata) The assessee filed two appeals before the Tribunal against separate orders of the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Years (AY) 2011–12 and 2015–16. Both appeals were heard together and disposed of through a common order. AY 2011–12 (ITA No. 179/KOL/2025) The assessee, engaged in manufacturing M.S. pipes and galvanized pipes, originally filed its return and was assessed under Section 143(3) read with Section 153A. Subsequently, the assessment was reopened under Section 147 based on information from the Investigation Wi...