Teva Pharmaceutical & Chemical Industries India Pvt. Ltd. Vs. DCIT
Parties Involved
Facts Summary
The appellant, Teva Pharmaceutical & Chemical Industries India Pvt. Ltd., challenged the Final Assessment Order passed by the Deputy Commissioner of Income Tax on 26/07/2024 for the Assessment Year 2020-21. The appellant argued that the order was barred by limitation under Section 153 read with Section 144C of the Income Tax Act, 1961. The appellant relied on the judgment of the Hon'ble High Court of Madras in the case of Commissioner of Income Tax Vs. Roca Bathroom Products (P) Ltd. (2022) 445 ITR 537 (Madras) and several orders of the Hyderabad Bench of the Tribunal. The respondent argued that the issue of limitation was pending before the Hon'ble Supreme Court and sought deferral of adjudication.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Final Assessment Order passed on 26/07/2024 is barred by limitation under Section 153 read with Section 144C of the Income Tax Act, 1961.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
4 precedents cited in this judgement.
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