Order Passed Beyond 3-Month Limit under Section 153(5) is Invalid: Karnataka HC

DCIT Vs Biesse India Pvt. Ltd. (Karnataka High Court)

Order Giving Effect Beyond 3-Month Limit Held Time-Barred – Karnataka HC Upholds Refund with 244A Interest

Assessee, engaged in manufacturing & trading of wood-working machinery, filed return for AY 2012-13. Assessment u/s 143(3) r.w.s. 144C(13) was completed on 31.01.2017, & demand notice u/s 156 was issued. On appeal, Tribunal by order dated 07.07.2017 directed recomputation of ALP by excluding five comparables. Assessee’s miscellaneous petition was rejected on 15.12.2017, & further appeal (ITA No. 851/2

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