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2021 (5) TMI 1043 - ITAT DELHIAssessment u/s 144C - Period of limitation - assessee vehemently stated that the assessment order is barred by limitation in as much as there was no need to frame a draft assessment order as per provisions of section 144C(13) - AO proposed that the interest income is to be taxed @ 20% u/s 115A(1)(a)(ii) - HELD THAT:- AO shall forward the draft of the proposed order if he proposes to make any variation in the income or loss returned. The aforestated proposal in the draft assessment order clearly show that the AO did not intend to make any variation in the income of the assessee, therefore, the assessment order should have been framed as per the provisions of section 153 r.w.s. 143(3) of the Act meaning thereby that the assessment order dated 07.09.2018 is barred by limitation. In the light of the facts mentioned elsewhere when considered within the provisions of section 144C(1) we have no hesitation to hold that the assessment order is barred by limitation.
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