Assessment order passed u/s. 153C quashed as barred by limitation: ITAT Delhi

Advertisement DCIT Vs Dharampal Premchand Ltd. (ITAT Delhi) ITAT Delhi held that assessment order passed by AO under section 153C read with section 143(3) of the Income Tax Act is passed beyond prescribed time limited. Hence, the order barred by limitation is liable to be quashed. Facts- The assessee is in the business of software publishing consultancy and supply. A search and seizure operation was carried out in the case of Maconns, Meenu and Yadav Singh Group, Noida on 27.11.2014. The assessee company is incorporated on 01.04.2007 with 10000 shares held equally by Namrata Manocha and Shr...