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TMI Blog2023 (12) TMI 1380X X X X Extracts X X X X X X X X Extracts X X X X ..... ed u/s 153(3) read with Section 153(4) and Section 153(5) of the Act have expired, the assessment proceedings have become time-barred HELD THAT:- In the event, the AO has not passed the assessment orders in accordance with the orders of remand passed by the ITAT within the time stipulated under Section 153(3) read with Section 153(4) and Section 153(5) of the Act, the returned assessments are directed to be accepted on the said issues. AO shall also release the refunds, if any, along with applicable interest in accordance with Section 244A of the Act within a further period of eight weeks. This Court clarifies that it has passed this order, as it is settled law that assessment is complete only when the AO passes an assessment order determin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orders passed by the TPO, the AO has failed to pass any order till date. He also states that the AO has failed to pass any order to give effect to the other directions passed by the ITAT. 3. Learned counsel for the petitioner states that as the limitation period to pass such orders, as per the statutory timelines prescribed under Section 153(3) read with Section 153(4) and Section 153(5) of the Act have expired, the assessment proceedings have become time-barred. Therefore, according to him, the returned position should be accepted and the refunds claimed under the income tax return along with the statutory interest should be released. He states that the issue under consideration is covered by the judgment of this Court in Aricent Technolog ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refunded to the petitioner along with interest as applicable within a period of eight weeks from today. 4. Learned counsel for the respondent-revenue prays for further time to obtain instructions. However, learned counsel for the respondent-revenue states that as the records are not readily available, he needs some time to obtain instructions. 5. On the last date of hearing, this Court had adjourned the matter to enable the respondent to obtain instructions. Consequently, this Court is not inclined to adjourn the matter any further. 6. Accordingly, the present batch of matters is disposed of with a direction to the AO to pass appeal effect orders in accordance with law within eight weeks. In the event, the AO has not passed the assessment o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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