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2023 (6) TMI 1368 - AT - Income TaxValidity of the order passed u/s. 92CA(3) - period of limitation - HELD THAT:- As per provision of Sec. 92CA(3A) the TPO is required to pass an order u/s 92CA(3) of the Act at any time before 60 days prior to the date on which the period of limitation referred to in Sec. 153 for making the assessment order on assessment or reassessment or re-computation or fresh assessment as the case may be expires. After taking into consideration the material placed on record it is undisputed fact that transfer pricing officer has passed order u/s 92CA(3) on 01.11.2019 whereas the limitation for passing the said order u/s 92CA(3) expires on 31.10.2019 Therefore, taking into consideration the provision of the Act and decision of Hon’ble Madras High Court in the cases Pfizer Healthcare Ltd. [2021 (2) TMI 1152 - MADRAS HIGH COURT] and Saint Gobain India P. Ltd. [2022 (4) TMI 808 - MADRAS HIGH COURT] the order u/s 92CA(3) of the Act is time barred by 1 day. Thus as the order of the TPO was barred by limitation, therefore, there was no eligible assessee in the case of the assessee in terms of provisions of subsection (15) to Sec. 144C of the Act. Appeal of the assessee is allowed.
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