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2022 (8) TMI 190 - AT - Income TaxValidity of assessment u/s.144C - Assessment barred by limitation - AO shall forward a draft order of assessment if he proposes to make any variation in the income or loss return by the assessee on or after October 01, 2009 - HELD THAT:- Before us, in the present case, the assessment year involved is assessment year 2007-08 and draft assessment order u/s.144C(1) of the Act was framed on 24.12.2010 and served on the assessee on 31.12.2010. The assessee has accepted the draft assessment order and assessee vide letter dated 18.02.2011 requested the AO that they are not filing objection before DRP and they are preferring appeal before CIT(A). ITO, Ward 10(4), New Delhi framed final assessment order u/s.143(3) r.w.s. 144C of the Act dated 22.02.2011. We have reproduced the extract of the provisions of section 153 of the Act as applicable to assessment year 2007-08 in above para 8.2 and the details of particular for assessment year 2007-08 . Thus we are of the view that in term of section 153 of the Act, a final assessment order u/s.143(3) of the Act, in the absence of provisions of section 144C of the Act being held as prospective in term of decision of Hon’ble Madras High Court in the case of Vedanta Limited, supra, the assessment should have been framed on or before 31.12.2010 but actually this was framed only on 22.02.2011, which is barred by limitation. Appeal of assessee allowed.
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