Honda Trading Asia Company Ltd. Vs. DCIT
Parties Involved
Facts Summary
The case involves an appeal filed by Honda Trading Asia Company Ltd. against the Final Assessment Order passed by the Assessing Officer under Section 143(3) read with Section 144C(13) and Section 144B of the Income Tax Act, 1961, dated 30/08/2024 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 time frame prescribed under Section 153(1) read with Section 153(4) of the Act. The respondent argues that the issue of limitation is unsettled and pending before the Supreme Court, hence the Tribunal should defer adjudication. 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 from the Hyderabad Bench of the Tribunal. The respondent cites the pending matter before the Supreme Court in the case of ACIT Vs. Shelf Drilling Ron Tappmeyer Ltd.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Final Assessment Order dated 30/08/2024 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
6 precedents cited in this judgement.
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