Section 153(3) of the Income Tax Act
The decision most relied on for Section 153(3) is Commissioner of Income Tax v. Roca Bathroom Products (P) ltd. (445 ITR 537), cited in 269 of the 166 judgments on BharatTax that turn on this section.
Leading authorities on Section 153(3)
The time limit for the Assessing Officer to pass a final assessment order under Section 144C(13) following directions from the Dispute Resolution Panel is determined by the specific provisions of Section 153, particularly Section 153(2A).
A charitable institution registered under section 12A is entitled to claim depreciation on fixed assets, even if the expenditure incurred for acquiring such assets has already been treated as an application of income for exemption purposes.
Courts must interpret statutes by reading the entire enactment as a whole to ascertain legislative intent, rejecting constructions that create inconsistency, render any provision otiose or a "dead letter," or defeat the plain intention of the legislature.
When taxable income has escaped assessment, the assessee's plea that no fresh material is before the assessing officer to warrant reopening is not relevant.
Judgments on Section 153(3)
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