Delay in Assessment over DRP Order in Time–Barred Income Tax matter is Null and Void: ITAT Grants Relief to Hyundai Rotem

The ITAT ruled that Hyundai Rotem's appeal concerning a time-barred income tax matter, where the delay occurred due to DRP orders, is null and void. The company challenged the assessment order issued after the statutory timeline had expired. The bench held that the time limitation under the Income Tax Act cannot be extended, and the orders made beyond this period cannot be upheld. It granted relief to Hyundai Rotem, emphasizing that the statutory period for assessment and the completion of proceedings is sacrosanct. The case stressed the importance of adhering to prescribed timelines in tax-related matters, reaffirming that procedural timelines should not be violated.