Returned Income Must Be Accepted When Fresh Assessment After ITAT Remand Is Time-Barred: Bombay HC

Laqshya Media Limited Vs Asst./ DCIT (Bombay High Court) The Bombay High Court considered a writ petition challenging the inaction of the Assessing Officer in not passing a fresh assessment order pursuant to an order of the Income-tax Appellate Tribunal (ITAT) within the limitation prescribed under Section 153 of the Income-tax Act, 1961, for Assessment Year (AY) 2014-15. The petitioner sought a direction requiring the Assessing Officer to accept the income returned for the relevant assessment year. The petitioner’s return of income for AY 2014-15 had originally been selected for scrutin...