ITAT Quashes 153C Assessments as Time-Barred: Six-Year Limitation Upheld

3D Tradex Private Limited Vs ADIT (ITAT Delhi)

Summary : The Income Tax Appellate Tribunal (ITAT) Delhi heard six appeals filed by 3D Tradex Private Limited (formerly 3D Portfolio Pvt. Ltd.) for Assessment Years (AYs) 2010–11 to 2015–16, along with one appeal by the Revenue for AY 2010–11. These arose from a consolidated order of the Commissioner of Income Tax (Appeals) [CIT(A)] dated 30 June 2022, which upheld assessments framed under Section 153C read with Section 143(3) of the Income Tax Act, 1961, following a search action conducted under Section 1

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