Giesecke & Devrient MS India P. Ltd. vs. Assistant Commissioner of Income Tax
Parties Involved
Facts Summary
These appeals by the assessee for the assessment years 2017-18, 2020-21, and 2021-22 challenge the validity of the assessment orders on the ground of limitation as per the provisions of section 144C(13) read with section 153 of the Income Tax Act, 1961. The assessee contends that the final assessment orders were passed beyond the period of limitation. The department, represented by Shri Dharam Veer Singh, raised objections to the adjudication of these appeals, arguing that the issue is sub judice before the Hon’ble Supreme Court and that the operative part of the judgment in the case of Shelf Drilling Ron Tappmeyer Ltd. has been stayed by the Supreme Court. The department also argued that the issue should await authoritative settlement by the Supreme Court. However, the Tribunal rejected these objections and proceeded to hear the appeals on their merits.…
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 seen only with reference to the timeline specified under section 144C of the Act without referring to provisions of 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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