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2023 (10) TMI 915 - AT - Income TaxValidity of assessment u/s 144C - time limit for completing the assessment - HELD THAT:- We find that the issue is covered in favour of the assessee by the order of the Tribunal in the case of S.A. Chitra Ventures Ltd. [2022 (7) TMI 1474 - ITAT DELHI] wherein the co-ordinate bench on similar facts considering the decision of IPF India Property Cyprus [2020 (2) TMI 1500 - ITAT MUMBAI] held that the assessment order passed is barred by limitation. There is no dispute that if no draft assessment order was to be issued in this case, the assessment would have been time barred on 31st December 2017 - Once we hold that no draft assessment order could have been issued in this case, as the provisions of Section 144C(1) could not have been invoked in this case, the time limit of completion of assessment was available only upto 31st December 2017. The mere issuance of draft assessment order, when it was legally not required to be issued, cannot end up enhancing the time limit for completing the assessment under section 143(3). We, therefore, uphold the plea of the assessee on this point as well. Thus we hold that the assessment order passed under section 143(3) read with section 144C(13) is barred by limitation for both the assessment years 2015-16 and 2016-17 - Decided in favour of assessee.
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