Beam Global Spirits and Wine (India) P. Ltd. Vs. DCIT
Parties Involved
Facts Summary
The case involves an appeal by Beam Global Spirits and Wine (India) P. Ltd. against the Final Assessment Order passed by the Deputy Commissioner of Income Tax. The Assessee contends that the Final Assessment Order dated 23/07/2024 is time-barred and bad in law as it was 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 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 Co-ordinate Bench of the Tribunal, Hyderabad Bench. The Department argues that the issue of limitation is unsettled and pending before the Supreme Court, thus seeking deferral of adjudication.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Final Assessment Order passed on 23/07/2024 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
5 precedents cited in this judgement.
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