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RU
Income Tax Search Assessment Quashed as 60-Day Limitation Applied After Stay Was Vacated
['Https', 'Twitter.Com Taxguru_In', 'Ca Sandeep Kanoi']
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As a result, only eleven days of the original limitation period remained when the proceedings were stayed.
Following the Supreme Court decision, the Assessing Officer proceeded to complete the assessment and passed the impugned assessment order on 30.04.2024.
Consequently, the impugned assessment order and the demand notice were held to be without jurisdiction and barred by limitation.
Accordingly, the writ petition was allowed, and both the assessment order dated 30.04.2024 and the demand notice of the same date for Assessment Year 2011–12 were quashed and set aside.
The impugned Assessment Order dated 30.04.2024 as well as the demand notice dated 30.04.2024 for the Assessment Year 2011-12 are hereby quashed and set aside.