Case Law Details
DCIT Vs Pepsi Foods Ltd. (Supreme Court of India)
FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER
The Hon’ble Supreme Court in DCIT v. Pepsi Foods Ltd. [Civil Appeal Nos. 1106 to 1139 of 2021 decided on April 6, 2021] has upheld the Hon’ble Delhi High Court’s verdict of partially striking down third proviso to Section 254(2A) of the Income Tax Act, 1961 (IT Act) which did not permit extension of a stay on tax assessment beyond 365 days even if the assessee is not responsible for delay in hearing of appeals by terming it as ‘arbitrary and discriminatory’.
Facts:-
Pepsi Foods Ltd. (“the Respondent”) is an Indian Company and engaged in the business of manufacture and sale of concentrates, fruit juices, processing of rice and trading of goods for exports.
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