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2023 (12) TMI 703 - ITAT MUMBAIValidity of TP order beyond period of limitation - HELD THAT:- TPO can pass an order u/s 92CA of the Act at any time before 60 days prior to the date on which period of limitation reformed to u/s 153 expires. Thus 60 days have to be counted prior to the date of last limitation u/s 153 Period of limitation for passing the assessment order as per Section 143(3) was 31/12/2019 and however, the extension of period of limitation u/s.92CA(3A) to pass the order by the ld. TPO expired on 31/10/2019 i.e. 60 days one day before 31/12/2019.We hold that transfer pricing order itself is barred by limitation. Once the ld. TPO’s order is held to be nullity on the ground that it is barred by limitation, then draft assessment order could not have been passed in the case of the assessee because assessee would no longer treated as eligible assessee. Accordingly, we quash the final assessment order being barred by limitation and once the assessment is quashed then none of the additions are sustained. Accordingly, the appeal of the assessee is allowed.
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