Posted inKLR
IBS Software Services Pvt. Ltd. & Suntec Business Solutions v. Union of India
Income Tax Act, 1961 – Section 144C(13) – Time Limit for Assessment Order – Mandatory Compliance – Assessment Orders Issued Beyond Prescribed Time Limit – Validity – Dispute Resolution Panel (DRP) Directions – Binding Nature – Non-Adherence to Time Limit Vitiates Proceedings – Fast-Track Dispute Resolution Mechanism – Legislative Intent – Machinery vs. Substantive Provision – Writ Petitions Allowed – Assessment Orders Set Aside.