ITA No.1939/D/2022, 5939/D/2024, 525/D/2022, 5602/D/2024 + SA 650/Del/2025 & 1503/Del/2021
Parties Involved
Facts Summary
The present adjudication involves five assessees who have challenged the validity of the assessment orders on the ground of limitation considering the provisions of section 144C(13) read with section 153 of the Income Tax Act, 1961. The assessees argued that the assessment orders were passed beyond the stipulated limitation period as per section 153 of the Act. The Revenue, on the other hand, objected to the adjudication of these appeals, arguing that the issue was sub-judice before the Hon’ble Supreme Court and that the judgment of the Hon’ble Bombay High Court in the case of Shelf Drilling Ron Tappmeyer Ltd. was restrained from being cited as a precedent. The Revenue further argued that the issue should await authoritative settlement by the Hon’ble Supreme Court.…
Decision in favour of
Partly Assessee / Partly Revenue
Legal Issues
- 1. Whether the limitation for passing the final assessment order under section 144C(13) of the Act is to be determined with reference to section 144C read with section 153 of the Act.
Judgment Outcome
Decided in favour of Partly Assessee / Partly Revenue.
Precedents Relied Upon
3 precedents cited in this judgement.
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