No Income Tax Assessment beyond 10-year Section 153A limit: ITAT Delhi

Suryavanshi Ventura Pvt. Ltd. Vs ACIT (ITAT Delhi) Conclusion: An assessment order passed by AO was quashed on the reason that assessment year was beyond the ten-year outer ceiling limit prescribed by Section 153A. Held: Assessee challenged the assumption of jurisdiction by AO and consequent passing of the Assessment Order. Assessee challenged the issuance of notice u/s 153A for the assessment year 2008-09 on the reasoning that the said notice was issued beyond the period of limitation. Hence, it was contended that the same was illegal and invalid in the eyes of law. Emphasis was also placed ...