FEV India Pvt. Ltd. Vs. Assessment Unit
Parties Involved
Facts Summary
The case involves FEV India Pvt. Ltd. challenging the Final Assessment Order passed under sections 143(3), 144C(13), and 144B of the Income Tax Act, 1961, dated 12/07/2024, pertaining to the Assessment Year 2020-21. The Assessee contends that the order is time-barred and bad in law as it was passed beyond the statutory time frame prescribed under section 153(1) read with section 153(4) of the Act. The Assessee relies on the judgment of the Hon'ble High Court of Madras 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 Hon'ble Supreme Court, thus requesting deferral of adjudication.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Final Assessment Order dated 12/07/2024 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
9 precedents cited in this judgement.
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