Case Law Analysis
|Income Tax Appellate Tribunal
Reassessment orders barred after stay vacated under Section 153(2) IT Act | ITAT (Ahmedabad)
The ITAT ruled that a reassessment order issued after a court-ordered stay is lifted falls outside the two-year limitation of Section 153(2), rendering the addition of Rs 18.16 crore invalid. This protects taxpayers from belated reassessments once a stay is removed.