Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (1) TMI 597 - HC - Income TaxAssessment u/s 144C - expression ‘eligible assessee’ - assessee had not filed objection within the limitation period prescribed even if assumed as correct is of no avail and relevance - Held that:- The expression ‘eligible assessee’ defined in sub-section (15) to Section 144C of the Act means a person in whose case the variation in taxable income in the draft assessment arises as a consequence of the order of the Transfer Pricing Officer. It is accepted by the Revenue that the variation in the assessment order dated 28.03.2014 was as a consequence of the report of Transfer Pricing Officer which was relied upon. The respondent-assessee would not cease to be an “eligible assessee” as no fresh order or report from the Transfer Pricing Officer was called post the remand. Definition of ‘eligible assessee’ would equally apply to the proceedings remanded to the Assessing Officer for fresh adjudication when the variation in income or loss returned which is prejudicial to the interest of the assessee arises as a consequence of the order of the Transfer Pricing Officer. No merit in the present appeal as the issue is covered by decision of this court in JCB India Ltd. [2017 (9) TMI 673 - DELHI HIGH COURT].
|