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2023 (2) TMI 1183 - AT - Income TaxValidity of order passed by the TPO u/s 92CA(3) - Computation of period of limitation - HELD THAT:- As relying on Pfizer Healthcare India Pvt. Ltd. [2021 (2) TMI 1152 - MADRAS HIGH COURT] we find that the order of TPO was passed u/s 92CA (3) on 30.01.2013 is clearly barred by limitation as the same could have been passed on or before 29.01.2013. Thus, the TPO order dated 30.01.2013 is quashed as barred by limitation. Whether once the TP order is held to be nullity or quashed on the ground of barred by limitation, then could AO have passed the draft assessment order treating it to be as eligible assessee? - As we hold that the impugned order dated 26.02.2014 is clearly barred by limitation, because once the assessee is not eligible assessee, therefore no draft assessment order could have been passed and finally the assessment order should have been passed on or before 31st March 2013 i.e. within the period limitation passed u/s 153. Thus, the impugned final assessment orders dated 26.02.2014 is barred by limitation and is hereby quashed.
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