PERFORMANCE SPECIALTY PRODUCTS (INDIA) PRIVATE LIMITED
Parties Involved
Facts Summary
The present adjudication involves a batch of two appeals pertaining to the same assessee for Assessment Years 2020-21 and 2021-22. The assessee has 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 assessee argued that the assessment orders for the impugned assessment years are barred by limitation. The Revenue objected to the adjudication of these appeals, submitting that the issue was sub-judice before the Hon’ble Supreme Court. The assessee relied on the decision in the case of Roca Bathroom Products (P) Ltd. reported in 445 ITR 537 (Mad.), while the Revenue argued that the issue is pending before a larger Bench of the Supreme Court and should not be adjudicated prematurely.…
Decision in favour of
Assessee
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
5 precedents cited in this judgement.
Similar Judgements
ITA Nos. 5422/D/24, 5407/24, 5376/D/24, 5342/D/24, 5371/D/24, 5340/D/24, 4407/D/24, 4337/D/24, 3907/D/24 & 9862/D/19
ITA NOS. 1970/D/2022 & 5713/D/2024 JUBILANT PHARMOVA LTD.
ITA NOS. 5913/D/2024 & 4518/D/2024 LX PANTOS INDIA (P) LTD.
BT India Private Limited vs ACIT
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