Assessments Getting Time Barred By 31.03.2017 Can Continue Only Upto 31.03.2018: Kerala High Court

The Kerala High Court ruled that income tax assessments made beyond the statutory time limits are invalid. The case concerned the issue of whether assessments and re-assessments could be conducted after the specified period under the Income Tax Act. The court held that the assessments made after the time limit were time-barred, emphasizing that tax authorities must adhere strictly to prescribed time limits for such actions. This ruling reinforces the need for timely and accurate tax assessments and offers clarity on the limits within which tax authorities can operate.