Rolls-Royce India Pvt. Ltd. vs. ACIT
Parties Involved
Facts Summary
The captioned appeal is filed by Rolls-Royce India Private Limited challenging the Final Assessment Order passed under section 143(3) read with section 144C(13) of the Income Tax Act, 1961 dated 28/06/2022 pertaining to the Assessment Year 2018-19. The Assessee raised Ground No. 15 contending that the Final Assessment order dated 28/06/2022 passed by the Assessing Officer 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 Income Tax Act, 1961. 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. 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.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Final Assessment Order 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
3 precedents cited in this judgement.
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