Jindal Steel & Power Ltd. vs. Assistant Commissioner of Income Tax

Parties Involved

Facts Summary

Jindal Steel & Power Ltd. (the assessee) filed six appeals for assessment years 2011-12 to 2016-17, challenging the validity of the assessment orders on the ground of limitation under section 144C(13) read with section 153 of the Income Tax Act, 1961. The assessee argued that the assessment orders were barred by limitation as they were passed beyond the prescribed period. The Department objected to the adjudication of these appeals, citing that the issue was 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. had been stayed by the Supreme Court. The Tribunal rejected the Department’s objections and proceeded to hear the appeals on merit.…

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 Assessee.

Precedents Relied Upon

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