Lonza India Pvt. Ltd. Vs. DCIT

Parties Involved

Facts Summary

The captioned appeal is filed by the Assessee, Lonza India Pvt. Ltd., challenging the Final Assessment Order passed under section 143(3) read with section 144C(13) of the Income Tax Act, 1961, dated 12/07/2024 pertaining to the Assessment Year 2020-21. The Assessee raised Ground No. 2 contending that the Final Assessment order is time-barred by limitation and is bad in law, as it has been passed beyond the time frame prescribed under section 153(1) read with section 153(4) of the Act. The Assessee's Representative relied on the ratio laid down by the Hon'ble High Court of Madras in the case of Commissioner of Income-tax Vs. Roca Bathroom Products (P.) Ltd. [2022] 445 537 (Madras) and orders passed by the Co-ordinate Bench of the Tribunal, Hyderabad Bench. Per contra, the Department's Representative submitted that the issue of limitation arising from the interplay between Section 144C and Section 153 of the Act is presently unsettled and pending adjudication before the Hon'ble Supreme Court in the case of ACIT Vs. Shelf Drilling Ron Tappmeyer Ltd. in Special Leave to Appeal (C) Nos. 20569-20572/2023, thus seeking deferral of adjudication.…

Legal Issues

• 1. Whether the Final Assessment Order passed on 12/07/2024 is time-barred by limitation 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

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