Delhi HC Dismisses Assessment Passed Beyond Section 144C Time Limit

PCIT Vs Fiberhome India Private Limited (Delhi High Court) The Revenue filed an appeal before the Delhi High Court challenging the order of the Income Tax Appellate Tribunal (ITAT) dated 13 March 2023. The ITAT had upheld the view of the Dispute Resolution Panel (DRP) that the assessment made under Section 144C of the Income Tax Act, 1961, was barred by limitation as it had not been completed within the statutory time prescribed. The DRP issued its directions on 16 December 2021. The Assessing Officer (AO) passed the final assessment order on 26 March 2022. The Court noted that the assessment ...