Honda Access India Private Limited Vs. ITO
Parties Involved
Facts Summary
The case pertains to an appeal filed by Honda Access India Private Limited against the Final Assessment Order passed by the Income Tax Officer (ITO) under Section 143(3) read with Section 144C(13) of the Income Tax Act, 1961, dated 19/07/2024 for the Assessment Year 2020-21. The appellant contends that the Final Assessment 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 appellant relies on the judgment of the Madras High Court in the case of Commissioner of Income-tax Vs. Roca Bathroom Products (P.) Ltd. and orders passed by the Coordinate Bench of the Tribunal, Hyderabad Bench. The respondent argues that the issue of limitation is presently unsettled and pending adjudication before the Supreme Court, thus seeking deferral of adjudication of the appeal.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Final Assessment Order passed by the ITO 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
5 precedents cited in this judgement.
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