The Bank of Tokyo-Mistubishi UFJ Ltd. vs. Deputy Commissioner of Income-Tax
Parties Involved
Facts Summary
These cross appeals by the assessee and the Revenue for AY 2012-13 are directed against the Assessment Order dated 10.05.2016 passed under section 143(3) read with section 144C(13) of the Income Tax Act, 1961. The assessee challenged the validity of the final assessment order on the ground of limitation under section 144C(13) read with section 153 of the Act. The assessee raised this legal ground by way of an additional ground of appeal dated 26.05.2023. The assessee argued that the assessment order was barred by limitation, relying on the decision in CIT vs. Roca Bathroom Products P Ltd. The Revenue objected to the adjudication of the appeals, arguing that the issue was sub judice before the Hon’ble Supreme Court and citing various precedents to support their stance.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the limitation for passing the final assessment order under section 144C(13) of the Act is to be determined with reference to section 144C read with section 153 of the Act.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
8 precedents cited in this judgement.
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