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2023 (5) TMI 1203 - AT - Income TaxValidity of order passed u/s 92CA(3) - period of limitation - Whether TP order in this case has been passed by the TPO after the time limit prescribed u/s 92CA(3A) r.w.s. 153? - HELD THAT:- As in the present case the TPO has passed the order only on 30.01.2014 which was after the limitation period as prescribed u/s 92CA(3). We note the similar view has been taken by the Tribunal in the following cases Tata Power Solar Systems Ltd [2022 (3) TMI 1510 - ITAT BANGALORE], M/s.Swiss Re Global Business Solutions India Pvt. Ltd. [2022 (1) TMI 1033 - ITAT BANGALORE], ECL Finance Ltd. [2021 (9) TMI 1399 - ITAT MUMBAI] & M/s. Unisys India Pvt. Ltd. [2022 (6) TMI 1378 - ITAT BANGALORE]. Since the impugned order passed by the TPO u/s 92CA of the Act is beyond the period of limitation it is held to be bad in law. Therefore the addition in respect of TP adjustments stands quashed. Non-grant of Foreign Tax Credit under India-Singapore Treaty - HELD THAT:- Since issue requires factual verification the same is restored back to the file of the AO for de novo consideration. AO is directed to compute foreign tax credit that is due to the assessee in accordance to the law after affording a reasonable opportunity of hearing to the assessee. Assessee has claimed credit of tax deducted at source while computing the tax liability for the year, which also requires verification at the end of the AO and the AO to verify the same and grant credit of tax in accordance to the law after hearing the assessee. Ground allowed for statistical purposes.
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