Oracal India Vs. Addl. CIT
Parties Involved
Facts Summary
Oracle India Private Limited filed an appeal against the final assessment order passed by the Assessing Officer under Section 143(3) read with Section 144C of the Income Tax Act, 1961. The appellant contended that the final assessment order was passed beyond the statutory limitation prescribed under Section 153 of the Act and hence, was barred by limitation. The Revenue, on the other hand, argued that the issue of limitation was pending adjudication before the Supreme Court and therefore, the Tribunal should defer the adjudication of the appeal. The Tribunal considered the submissions of both parties and the precedents cited by them.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the final assessment order passed by the Assessing Officer is barred by limitation under Section 153 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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