No Parallel Assessment Orders Permissible for Same Assessment Year Under Section 153A Regime

Triple S Stock and Shares Pvt Ltd Vs ITO (Delhi High Court) In Triple S Stock and Shares Pvt Ltd. Vs ITO, the Delhi High Court examined whether an earlier assessment order continued to survive after a fresh assessment order was passed under Section 153A of the Income Tax Act following a search operation. The assessee challenged the order of the Income Tax Appellate Tribunal dated 16.12.2024, which had rejected the assessee’s contention that the earlier assessment order dated 29.12.2008 stood abated after a subsequent assessment under Section 153A was passed on 26.12.2011. The original asses...