Adidas India Marketing (P.) Ltd. Vs. ACIT
Parties Involved
Facts Summary
The case involves an appeal filed by Adidas India Marketing Private Limited against the Final Assessment Order passed by the Assistant Commissioner of Income Tax under Section 143(3) read with Sections 144C(13) and 144B of the Income Tax Act, 1961, dated 26/06/2024 for the Assessment Year 2020-21. The appellant contends that the Final Assessment Order is time-barred and bad in law as it was passed beyond the statutory limitation prescribed under Section 153(1) read with Section 153(4) of the Act. The appellant relied on the judgment of the Madras High Court in the case of Commissioner of Income-tax Vs. Roca Bathroom Products (P.) Ltd. and orders passed by the Coordinate Bench of the Tribunal, Hyderabad Bench. The respondent argued that the issue of limitation is unsettled and pending before the Supreme Court, hence the Tribunal should defer adjudication.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Final Assessment Order passed by the A.O. is time-barred under Section 153(1) read with Section 153(4) of the Income Tax Act, 1961.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
4 precedents cited in this judgement.
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