Fresh assessment order in pursuance of order u/s 254, 263 or 264 should be made within 9 months

Late Mr. Lakhpatrai Agarwal Vs ACIT (Bombay High Court) Bombay High Court held that as per provisions of section 153(3) of the Income Tax Act any order of fresh assessment in pursuance of an order under Section 254, 263 or 264 should be made within a period of 9 months from the end of the financial year in which the order is received. Order passed beyond the same will be time barred. Facts- A survey u/s. 133A and search u/s. 132(1) of the Act was conducted at the residential premises of Late Mr. Lakhpatrai Agarwal. During search, jewellery pertaining to the petitioner was seized and the petiti...