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2023 (9) TMI 907 - ITAT MUMBAIValidity of order passed u/s 92CA - Time limit for passing order - period of limitation - HELD THAT:- As the time limit for passing the order under Section 92CA(3) of the Act, computed as per the judgement of Hon’ble Madras High Court in the case of Pfizer Healthcare India Private Limited [2021 (2) TMI 1152 - MADRAS HIGH COURT] expired on 31/10/2019. Since the order u/s 92CA(3) of the Act has been passed 01/11/2019, i.e., after the expiry of the period of limitation, the same is set aside as being barred by limitation. “Eligible Assessee” u/s 144C(15) - As per the order, dated 01/11/2019 passed by TPO u/s 92CA(3) of the Act is barred by limitation Appellant, therefore, does not qualify as an “Eligible Assessee” under Section 144C(15)(b)(i) of the Act. Thus, the Assessing Officer could not have assumed jurisdiction to invoke provisions of Section 144C(1) of the Act for passing the Draft Assessment Order, dated 08/11/2019. As a result, the time limit available to the Assessing Officer under Section 153 of the Act for passing the assessment order expired on 31/12/2019 even if the benefit of extended period of 12 months is granted on account of a valid reference having been made under Section 92CA of the Act. The Final Assessment Order has been passed in present case on 31/03/2021 and therefore, the same is barred by limitation. Assessee appeal allowed.
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