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2021 (3) TMI 563 - AT - Income TaxPeriod of limitation for palling an order passed by the TPO u/s 92CA (3) read with section 153 - how the period of 60 days prior to the date of TP order i.e. 31.03.2013 is to be computed? - HELD THAT:- Hon’ble Madras High Court in case of M/s. Pfizer Healthcare India Pvt. Ltd.2021 (2) TMI 1152 - MADRAS HIGH COURT]while dealing with the issue held that for computing the period of 60 days, the last date as per section 153 should be excluded. Computation of period of 60 days given by the taxpayer extracted in the preceding para no.20 cannot be faulted with on any ground because from 31.03.2013, the date of passing order of the AO, 60 days was to be computed by excluding the date of order i.e. 31.03.2013. So, while excluding the date 31.03.2013, the day of passing the order, the order was required to be passed by the TPO by 29.01.2013 whereas the impugned order has been passed on 31.01.2013 which is barred by limitation. Following the order passed by the coordinate Bench of the Tribunal in cases of M/s. Pfizer Healthcare India Pvt. Ltd. and Honda Trading Corporation [2015 (9) TMI 846 - ITAT DELHI] respectively and mandate of section 92CA (3) read with section 153 of the Act, impugned order passed by the ld. TPO is barred by limitation which was required to be passed by 29.01.2013 and as such is hereby quashed. Consequent additions made on account of transfer pricing adjustment by way of determining the ALP transaction by the TPO are also not sustainable in the eyes of law, the order of the TPO being barred by limitation. Since vide assessment order dated 24.02.2014 AO has made addition on account of determination of ALP of international transaction, such addition stands deleted being order of ld. TPO barred by limitation, but the assessment order u/s 143 (3) passed by AO is in time, it stands except those additions proposed by ld. TPO. Thus, additions made by AO, based on order of ld. TPO, stand deleted without entering into grounds raised on merits by the taxpayer.
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