Emaar India Limited Vs. ACIT
Parties Involved
Facts Summary
Emaar India Limited filed an appeal against the Final Assessment Order passed by the Assessing Officer (AO) under Section 143(3) read with Section 144C(13) of the Income Tax Act, 1961, for the Assessment Year 2020-21. The appellant contended that the Final Assessment Order was time-barred and invalid as it was passed beyond the statutory time limit prescribed under Section 153(1) read with Section 153(4) of the Act. The appellant relied on the judgment of the Hon'ble High Court of Madras in Commissioner of Income-tax Vs. Roca Bathroom Products (P.) Ltd. [2022] 445 537 (Madras) and orders passed by the Co-ordinate Bench of the Tribunal, Hyderabad Bench. The Department argued that the issue of limitation was unsettled and pending before the Hon'ble Supreme Court in ACIT Vs. Shelf Drilling Ron Tappmeyer Ltd. and thus, the Tribunal should defer adjudication.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Final Assessment Order passed by the AO is time-barred and invalid under Section 153 read with Section 144C of the Income Tax Act, 1961.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
10 precedents cited in this judgement.
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