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2023 (1) TMI 663 - AT - Income TaxValidity of reassessment order - illegal and invalid order of the TPO without following the due procedure as laid down in the relevant provision of section 144C - HELD THAT:- As in the case of Nomura Research Institute Financial Technologies India (P) Ltd. [2020 (3) TMI 1420 - ITAT KOLKATA] wherein, the Tribunal in the almost exactly identical facts and circumstances, held that the Assessing Officer cannot pass final assessment order without making a valid reference to TPO and further that the TPO cannot initiate any proceedings against the assessee after passing of a final order by the AO as reference made by the AO to the TPO becomes infructuous after passing of final assessment order. Even the Dispute Resolution Panel, in this case, has also made the same observation. In view of this, the reassessment order, passed by the AO on the basis of illegal and invalid order of the TPO without following the due procedure as laid down in the relevant provision of section 144C of the Act, is not sustainable in the eyes of law and the same is, therefore, quashed.
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