TOLA provisions cannot rescue assessment orders barred by limitation: ITAT Chennai

Althi Venkata Narendra Raju Vs DCIT (ITAT Chennai) Facts: The assessee, Shri Althi Venkata Narendra Raju, was originally assessed under Section 143(3) of the Income Tax Act, 1961 for Assessment Year 2014-15 by an order dated 12.2016, wherein additions were made under the head long-term capital gains. Aggrieved, the assessee preferred an appeal before the Income Tax Appellate Tribunal. The Tribunal, vide its order dated 17.05.2019, set aside the assessment and remanded the matter to the Assessing Officer (AO) for a fresh assessment after proper examination of the nature of land and transactio...