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2023 (9) TMI 1109 - AT - Income TaxValidity of order passed u/s 92CA(3) r.w.s. 153 - period of limitation - how the period of 60 days prior to the date of transfer pricing order i.e. 01.11.2019 is to be computed - HELD THAT:- As following the order passed in case of M/s. Pfizer Healthcare India Pvt. Ltd. [2022 (4) TMI 808 - MADRAS HIGH COURT] and ECL Finance Ltd. [2021 (9) TMI 1399 - ITAT MUMBAI] and Louis Dreyfus Commodities India Pvt. Ltd. [2021 (3) TMI 563 - ITAT DELHI] on the identical issue, we are of the considered view that as per limitation prescribed under section 153 of the Act that assessment order was required to be passed within a period of 21 months from the end of assessment year i.e. A.Y. 2016-17 and a further period of 12 months is to be added in case reference is made under section 92CA of the Act to the Ld. TPO, meaning thereby the period of 60 days expires to pass the transfer pricing order on 31.10.2019 whereas the transfer pricing order has been passed in this case on 01.11.2019 i.e. beyond the period of 60 days, hence barred by limitation. Since the order passed by the Ld. TPO is held to be barred by limitation the same is illegal, null and void ab-initio, hence quashed.
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