Airbnb India Private Limited vs. DCIT, Circle-1(1)
Parties Involved
Facts Summary
The present appeal is filed by Airbnb India Private Limited against the final assessment order passed by the Assessing Officer dated 24.07.2024 for Assessment Year 2020-21. The assessee contends that the final assessment order is time-barred by limitation and is bad in law as it has been passed beyond the time frame prescribed under section 153(1) read with section 153(4) of the Income Tax Act, 1961. The assessee relies on the ratio laid down by the Hon'ble High Court of Madras in the case of Commissioner of Income-tax Vs. Roca Bathroom Products (P.) Ltd. [2022] 445 537 (Madras) and various orders passed by the Co-ordinate Bench of the Tribunal, Hyderabad Bench. The Department contends that the issue of limitation arising from the interplay between Section 144C and Section 153 of the Act is presently unsettled and pending adjudication before the Hon'ble Supreme Court in the case of ACIT Vs. Shelf Drilling Ron Tappmeyer Ltd. in Special Leave to Appeal (C) Nos. 20569-20572/2023.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the final assessment order passed by the Assessing Officer is time-barred by limitation 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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