INDUSTRIA CHIMICA ADRIATICA Vs. UNION OF INDIA

JUDGEMENT

(1.) Present writ petition has been filed seeking issuance of directions to the Respondents No. 2 and 3 to allow the Petitioner to file the return of income for the Assessment Year 2017-18 and to condone the delay in its filing.

(2.) Learned counsel for the Petitioner states that the Petitioner had executed a Technology Transfer Agreement ('TTA') dtd. 28/4/2016 for assignment of technology from the Petitioner to ICA Pidilite Private Limited ("ICA-PIL'). He further states that the Petitioner did not file return of income for the Assessment Year 2017-18 under the impression that tax had been deducted at the time of remittance received from ICA-PIL pursuant to the TTA.

(3.) Learned counsel for the Petitioner places reliance upon the Circular No.9/2015 dtd. 9/6/2015, as well as Circular No. 07/2023 dtd. 31/5/2023 issued by the Central Board of Direct Taxes ('CBDT'), which state that application for condonation of delay shall not be entertained beyond six years from the end of the Assessment Year for which such application/claim is made. He states that the case of the Petitioner is within limitation as prescribed in the Circular No. 9/2015, i.e., within six years from the end of the Assessment Year for which such application is made.