9911796707
TMI Blog2025 (5) TMI 1670X X X X Extracts X X X X X X X X Extracts X X X X ..... as under:- "issue a writ in the nature of mandamus or any other appropriate writ, order or direction declaring that the assessment proceedings for AY 2005-06 are barred by limitation therefore, direct the Respondents to grant refund of taxes paid/ deposited/adjusted in the case of Petitioner for AY 2005-06, along with applicable interest under Section 244A (1) and 244A (1A) of the Act, as per law;" 2. The petitioner is a company incorporated in India and is a 100 percent subsidiary of Schneider France. During the previous year relevant to Assessment Year [AY] 2005-06, the petitioner was engaged in the business of manufacturing low voltage and medium voltage equipments - Air Circuit Breakers (ACB), Miniature Circuit Breakers, Moulded Cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Act. The said order is set out below: - "Order u/s 250 of Income Tax - Act 1961 Consequent upon the order passed by the Ld. CIT(A) vide order No. 28/08-09 dated 23.09.2009, the income of the assessee is recomputed as under:- Assessed income u/s 143 (3) dated 10.12.2008 474,485,107/- Less: Relief allowed by Ld. CIT(A) on a/c of: Loss on foreign exchange fluctuation 72,06,000/- Revised assessed income (474485107 - 7206000) 467,279,107 r/o 467,279,110" 7. The petitioner challenged the CIT(A)'s order before the learned Income Tax Appellate Tribunal [ITAT] in ITA No.4492/Del/2009. The learned ITAT allowed the said appeal for statistical purposes by the order dated 11.01.2016, an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... force prior to their substitution by the Finance Act, 2016 with effect from 01.06.2016, the time limit for passing an order giving effect to the findings or directions contained in an appellate order, including those issued by the learned ITAT, was one year from the end of the financial year in which the order under Section 250 or Section 254 was received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner. 11. According to the petitioner, the period to pass the order on remand by the learned ITAT expired on 31.12.2018, however, no order was passed by the AO till the date. Thus, the assessment proceedings in respect of AY 2005-06 are time barred. 12. Concededly, the issue is covered by the d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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