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Facts
The assessee appealed against final assessment orders passed under Section 143(3) r.w.s. 144C(13) and Section 144B of the Income Tax Act, 1961. The assessee's primary contention was that these orders were passed beyond the statutory time limit prescribed under Section 153(1) and 153(4) of the Act.
Held
The Tribunal held that the provisions of Section 144C and Section 153 are not mutually exclusive but are mutually inclusive, and the period of limitation prescribed under Section 153 is applicable to matters remanded back. The final assessment orders were found to be barred by limitation as per Section 153 r.w. Section 144C of the Act.
Key Issues
Whether the final assessment orders passed by the Assessing Officer were barred by limitation under Section 153 read with Section 144C of the Income Tax Act, 1961.
Sections Cited
143(3), 144C(13), 144B, 153(1), 153(4), 158AB, 260A, 253
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, DELHI
Before: YOGESH KUMAR U.S. & SHRI MANISH AGARWAL
Since above issue of Limitation is pending adjudication before the Hon'ble Supreme Court in case of Shelf Drilling Ron Tappmeyer Ltd. (supra) and to be reached finality by the Larger Bench of the Hon'ble Supreme Court, we grant liberty to the parties to get the present Appeal revived for adjudication of the other issues on merits if the decision of the Hon'ble Supreme Court on this issue necessitates modification of this order. Accordingly, we dispose-off the captioned appeal on the limited legal issue of limitation with liberty as mentioned above to the parties and keep open other issues raised by the Assessee on merits, subject to the outcome of the Judgment of the larger bench of the Hon’ble Supreme Court in the case of Shelf Drilling Ron Tappmeyer Ltd. (supra).
In the result, appeals of the Assessee are allowed.
Order pronounced in the open court on 28th January, 2026