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2022 (10) TMI 155 - AT - Income TaxTP Adjustment - no conformity with the directions issued by the Hon’ble DRP u/s 144C(5) - assessee pointed out that final order of assessment does not incorporate the directions of the DRP and was a verbatim repetition of the draft order of assessment HELD THAT:- It is an admitted position that the directions of DRP would result in the changes to the TP adjustment originally proposed by the TPO. AO in the final assessment order has retained the TP adjustment at the same figure as in draft assessment merely for the reason that the TPO has not passed the order giving effect to the directions of the DRP and considering the time limit to passing the final assessment order. This in our considered view would mean that the final assessment order passed by the AO is not in accordance with the directions of the DRP. As following the decision of the coordinate bench of the Tribunal in the case of Flextronics Technologies (India) Pvt. Ltd [2018 (12) TMI 1741 - ITAT BANGALORE] we hold that the assessment framed in this case is quashed. We make it clear that, this order would not, in any way, stop the revenue from taking such steps as are available to it in law and the assessee also from contesting the action of the revenue in accordance with the law, if it so desires. It is ordered accordingly.
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