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2019 (12) TMI 253 - AT - Income TaxRevision u/s 263 - Transfer pricing (TP) adjustments - passing an order u/s 143(3) r.w.s 144C after the prescribed time limit u/s 153(1) r.w.s 92CA - an order which is erroneous and prejudice of revenue - CIT was of the view the AO has not made any enquiries during the assessment proceedings and he has not applied his mind to the issues. - CIT directed the AO to conduct proper investigations and frame fresh assessment. Held that:- the provisions of section 92CA(1) of the Act, mandates the approval of Commissioner before making any reference to the TPO by the Assessing Officer - the third proviso to section 153(1) of the Act which gives extended time limit to pass the Assessment Order where a reference under sub section (1) of section 92CA was made, the time limit for completion of assessment was prescribed as three years from the end of the Assessment Year. Even assuming that the extended time limit is available for passing an order under third proviso to sub section (1) of section 153 the outer time limit for passing Assessment Order was 31.03.2015, however the assessment in this case was admittedly made on 10.04.2015 and is beyond the period of limitation making the Assessment Order a nullity. When the original Assessment Order passed u/s. 143 (3) of the Act was null and void in the eyes of law, the Commissioner could not have assumed jurisdiction under law to make revision of a non-est order and therefore the impugned order passed u/s. 263 of the Act by the Commissioner is also nullity in the eyes of law. Further, we do not see any minimal enquiries conducted by the Ld. Pr.CIT before coming to the conclusion that the Assessment Order passed by the Assessing Officer is erroneous and prejudicial to the interest of the Revenue. The detailed submissions made by the assessee along with the evidences were not even examined by the Ld. Pr.CIT before arriving at the conclusion that the Assessment Order passed is erroneous. Thus, in view of the above reasons the order passed u/s.263 of the Act by the Ld. Pr.CIT is hereby quashed.
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