ITAT Upholds Assessment Because Larger Bench Decision of HC Must Be Preferred Over Single Judge View

Wockhardt Limited Vs DCIT (ITAT Mumbai) In Wockhardt Limited Vs DCIT, the Income Tax Appellate Tribunal, Mumbai Bench, considered cross appeals filed by the assessee and the revenue against an order of the Commissioner of Income Tax (Appeals) dated 9 February 2015. The dispute arose from an assessment completed under Section 143(3) read with Section 147 of the Income Tax Act, 1961 for Assessment Year (AY) 2009–10. During the hearing, the assessee sought admission of an additional ground of appeal contending that the Assessing Officer had passed the final assessment order beyond the time limi...