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IN THE HIGH COURT OF KARNATAKA AT BENGALURU
S.G.PANDIT, K.V.ARAVIND
Assistant Commissioner of Income Tax, Bangalore – Appellant
Versus
United Spirits Ltd. – Respondent
| Table of Content |
|---|
| 1. overview of tax assessment and relevant dates. (Para 3) |
| 2. conclusion on the validity of the notice. (Para 4 , 19) |
| 3. arguments regarding applicability of section 153. (Para 5 , 6) |
| 4. analysis of timeline and notices issued. (Para 8 , 9) |
| 5. interpretation of statutory provisions and their interrelations. (Para 10 , 18) |
| 6. legislative intent and the amendment's scope. (Para 12 , 16) |
| 7. final dismissal of the appeal. (Para 20) |
JUDGMENT :
K.V. ARAVIND, J.
1. Heard Sri E.I. Sanmathi, learned Senior Standing Counsel appearing for the appellants and Smt. Tanmayee Rajkumar, learned counsel appearing for the respondent.
2. This writ appeal, filed under Section 4 of the Karnataka High Court Act, 1961, by the Revenue, is directed against the order dated 17.08.2023 passed in W.P. No.13953/2020 (T-IT).
3. The facts, in brief, are that, the respondent–assessee, filed its return of income for the assessment year 2007–08. The Assessing Officer completed the assessment under Section 143(3) of the INCOME TAX ACT , 1961 (hereinafter referred to as the ‘Act’ for short) on 31.12.2009 assessing the tax payable. Aggrieved by the said assessment order, the assessee preferred an appeal before t
The limitation period for completing assessments following a Tribunal's order is governed by Section 153(2A), mandating a one-year limit from the end of the financial year of the Tribunal's decision.
The main legal point established in the judgment is the interpretation and applicability of the time limits prescribed under Section 153(2A) and Section 153(3) of the Income Tax Act, 1961 in the cont....
Timelines for income tax assessments are strictly regulated; actions exceeding those timelines are impermissible, reinforcing that expired timelines hinder subsequent assessments.
The assessment order was invalid as it was issued beyond the limitation period prescribed under Section 153 of the Income Tax Act, necessitating adherence to statutory timelines.
Final assessment orders in transfer pricing cases barred by limitation under S.153 r.w.s.144C if beyond prescribed time.
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