ACE TYRES PRIVATE LIMITED,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYDERABAD
What did the Tribunal hold?
The Tribunal held that the assessment order was passed beyond the prescribed limitation period under Section 153 of the Income Tax Act, considering the exclusion period for handing over seized materials. Therefore, the assessment order was quashed.
What were the facts?
A search was conducted on the assessee company and related entities, revealing unaccounted receipts and expenditures recorded in specific software. The MD admitted undisclosed income, and the AO made an addition based on these findings.
What were the issues?
Whether the assessment order was barred by limitation due to the time taken to hand over seized materials after a search, and whether the notice under Section 143(2) was validly issued.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, Hyderabad ‘ B ‘ Bench, Hyderabad
Before: Shri Vijay Pal Rao, Vice-Shri Manjunatha G.
Per. MANJUNATHA, G. A.M. This appeal is filed by the assessee directed against the order passed by the Learned Commissioner of Income Tax (Appeals)-11, Hyderabad, dated 16/10/2025 for the A.Y 2022-23. 2. The assessee has raised the following grounds of appeal:
ITA No 1893 of 2025 ACE Tyres Private Ltd
“1. On the facts and circumstance of the case, Learned CIT(A) erred in passing the order both on law and facts.
On the facts and circumstance of the case, the Learned CIT(A) is not justified
The order continues below.
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