Triumph Motorcycles (India) P. Ltd. Vs. DCIT
Parties Involved
Facts Summary
The case involves an appeal by Triumph Motorcycles (India) P. Ltd. against the Final Assessment Order passed by the Additional/Joint/Deputy/Assistant Commissioner of Income Tax, NFAC, New Delhi. The appellant contends that the Final Assessment Order dated 26/02/2022 is time-barred and bad in law as it was passed beyond the time frame prescribed under Section 153(1) read with Section 153(4) of the Income Tax Act, 1961. The appellant relies 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. and orders passed by the Co-ordinate Bench of the Tribunal, Hyderabad Bench. The Department's Representative argues that the issue of limitation is unsettled and pending before the Hon'ble Supreme Court, thus seeking deferral of adjudication.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Final Assessment Order passed on 26/02/2022 is time-barred 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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