ITAT Quashes Assessment Orders as Section 153 Limitation Expired Despite TOLA Extension

Repal Green Power Private Limited Vs DCIT (ITAT Hyderabad) The Income Tax Appellate Tribunal (ITAT), Hyderabad, decided two appeals filed by the assessee for Assessment Years (AYs) 2017-18 and 2018-19 against assessment orders passed under Sections 143(3) read with 144C(13) of the Income-tax Act. The appeals involved various transfer pricing, depreciation, investment allowance and other issues. The assessee also raised an additional legal ground contending that the assessment orders were barred by limitation under Section 153 of the Act. The Tribunal admitted the additional ground, holding tha...