Shelf Drilling Group companies had filed writ petitions1 with the Bombay High Court (HC), pleading that the limitation under Section 153(3) of the Income Tax Act, 1961 (the Act) read with the notifications for relaxations issued had expired on 30 September 2021. Therefore, no final assessment order could be passed as the proceedings were time-barred, and in view thereof, the Return of Income as filed should be accepted.
