Assessment Order Passed Beyond Time Limit Liable to be Quashed: ITAT Mumbai

APM Terminals India Private Limited Vs DCIT (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has nullified the assessment order for the assessment year 2017-18 against APM Terminals India Private Limited. The Tribunal’s decision, delivered on March 8, 2023, found the order to be time-barred, stemming from the Assessing Officer’s failure to comply with statutory deadlines for issuing the final assessment order after receiving directions from the Dispute Resolution Panel (DRP). Chronology of the Case The appeal initiated by APM Terminals India Private Limited contest...