Summary
- The Supreme Court has ruled that assessments following an ITAT remand must adhere to the limitation set out in Section 153.
- The Court declined to interfere with the Bombay High Court's directive to accept returned income when no assessment was made within this timeframe.
- This ruling emphasizes the importance of timely compliance with statutory limitations in tax assessments.
- The decision could have significant implications for future income tax assessments post-ITAT remand.
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