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2017 (5) TMI 1034 - AT - Income TaxRectification of mistake - depreciation on “self-generated assets” disallowed - period of limitation - Held that:- From the facts of the case, it is apparent that the assessment order was passed U/s.143(1) of the Act on 06.11.2008. Therefore, the order U/s.154 of the Act has to be passed within 4 years from the end of the financial year 2008-09, i.e., before 31.03.2013. Since in the case of the assessee the assessment order U/s.154 of the Act was passed on 28.01.2014 which is well beyond 4 years from the end of the financial year in which the assessment order was passed viz., 2008-09, the order passed by the Ld.A.O is time barred and therefore requires to be quashed. Accordingly, we hereby quash the assessment order passed by the Ld.AO dated 28.01.2014. Since we have quashed the assessment order by holding it to be time barred, it is not necessary for us to adjudicate the merit of the case as it would be only academic. - Decided in favour of assessee.
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