Assessment Proceedings u/s 153C of Income Tax Act initiated after 10 Years Block Period is Invalid: Delhi HC [Read Order]

The court held that AY 2013–14 falls beyond the ten-year block period as set out under Section 153C read with Section 153A of the Act. Consequently, the impugned notice is rendered unsustainable
Assessment Proceedings - Delhi High Court - Income Tax Act - Income Tax - Section 153C Income Tax Act - taxscan

The Delhi High Court has held that the initiation of Section 153C of the Income Tax Act assessment proceedings falling beyond the maximum 10-year block period is unsustainable. Flowmore Limited, the petitioner/assessee has challenged the notice issued under Section 148 of the Income Tax Act, 1961. The notice sought to reassess the petitioner for Assessment…

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