No Income Tax Assessment beyond 10-year Section 153A limit: ITAT Delhi

Advertisement Suryavanshi Ventura Pvt. Ltd. Vs ACIT (ITAT Delhi) Conclusion: An assessment order passed by AO was quashed on the reason that assessment year was beyond the ten-year outer ceiling limit prescribed by Section 153A. Held: Assessee challenged the assumption of jurisdiction by AO and consequent passing of the Assessment Order. Assessee challenged the issuance of notice u/s 153A for the assessment year 2008-09 on the reasoning that the said notice was issued beyond the period of limitation. Hence, it was contended that the same was illegal and invalid in the eyes of law. Emphasis...