Revenue Appeal Dismissed as Assessment Order Exceeded Mandatory Section 144C Time Limit

PCIT 1 Vs Fiberhome India Private Limited (Delhi High Court) The Delhi High Court considered the Revenue’s appeal challenging the Income Tax Appellate Tribunal (ITAT) order dated 13 March 2023, which had upheld the Dispute Resolution Panel (DRP)’s finding that the assessment framed under Section 144C of the Income Tax Act, 1961 was barred by the statutory limitation period. The Court also condoned the delay in filing and re-filing the appeal before considering the matter on merits. Issue Before the Court The dispute concerned whether the final assessment order passed by the Assessi...