PR. COMMISSIONER OF INCOME TAX 13, MUMBAI vs STERLING OIL RESOURCES LTD.

Judgment text excerpt

ppn 1/21 1.itxa-1238.18(j).docx Digitally signed IN THE HIGH COURT OF JUDICATURE AT BOMBAY by PRACHI PRACHI PRANESH NANDIWADEKAR PRANESH NANDIWADEKAR ORDINARY ORIGINAL CIVIL JURISDICTION Date: 2025.02.11 16:44:32 +0530 INCOME TAX APPEAL NO.1238 OF 2018 Pr. Commissioner of Income Tax-13, Mumbai, Room No.122, 1st Floor, Aayakar Bhavan, Maharshi Karve Road, Mumbai – 400 020 .. Appellant Versus Sterling Oil Resources Ltd. 329, Sandesara House, Jawahar Nagar, Road No.13, Goregaon (West), Mumbai – 400 062 PAN:AAKCS 0055J AY-2010-11 .. Respondent _______________________________________________________________ Mr. Akhileshwar Sharma for the appellant. Mr. P. J. Pardiwalla, Senior Advocate a/w Mr. Sankalp A. Sharma, Mr. Ameya Vaidya, Mr. Rajesh Poojary and Mr. Sukh Sagar Syal i/b. Mint & Confreres for the respondent. _______________________________________________________________ CORAM : M. S. Sonak & Jitendra Jain, JJ. RESERVED ON : 5 February 2025 PRONOUNCED ON : 11 February 2025 Judgment (Per Jitendra Jain) :- 1. This appeal is filed under Section 260A of the Income Tax Act, 1961 (‘The Act’) by the appellant-revenue for the assessment year 2010-11 challenging the order of the Income-tax Appellate Tribunal (‘Tribunal’) dated 22 June 2016. 2. The following substantial question of law proposed by the appellant- revenue is admitted and by consent of both the parties taken up for final ppn 2/21 1.itxa-1238.18(j).docx hearing : “Whether on the facts and in circumstances of the case and in law, the Hon’ble ITAT was justified in considering the order passed by the AO under Section 143 (3) r.w.s. 144C (13) being barred by limitation of time and not deciding the issue on merits ?” 3. Brief undisputed facts are as under :- (i) The respondent-assessee filed its return of income for the a