Time Limit u/s 153 of Income Tax Act Prevails over Assessment Time Limit u/s 144C of Income Tax Act: Bombay HC

By Kalyani B. Nair - On August 8, 2023 4:30 pm - 2 mins read
Time - Income- Tax -Act -Assessment- Time -Bombay -HC-TAXSCAN

In a major decision the Bombay High Court observed that the time limit under Section 153 of the Income Tax Act, 1961 prevails over assessment time limit prescribed under Section 144C of the Income Tax Act, 1961. The Petitioner, Shelf Drilling Ron Tappmeyer Limited, is a company incorporated under the relevant laws of Cayman Island…

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