Assessment Held Time-Barred Due to Invalid Foreign Information Reference

PCIT Vs Sanjay Jain (Delhi High Court) The Delhi High Court dealt with multiple appeals filed by the Revenue challenging a common order of the Income Tax Appellate Tribunal for Assessment Years (AYs) 2011-12 to 2017-18. The Tribunal had held that the assessment orders were barred by limitation. Before examining the merits, the Court condoned a delay of 36 days in filing the appeals and allowed the related applications. The factual background showed that a search was conducted on 27.02.2017 at the premises of the AMQ Group, and proceedings were initiated against the assessee based on material f...