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2023 (11) TMI 857 - ITAT MUMBAIValidity of Final assessment order u/s 144C passed in pursuant to the direction of DRP - period of limitation - upward adjustment to total income of Appellant in respect of international transaction of provision of Marketing Support Services (‘MSS’) - TPO rejected the bench marking analysis adopted by the assessee by applying TNMM method and also rejected the comparable companies considered by the assessee - HELD THAT:- The statute has mandated that the ld. A.O. shall pass the assessment order within one month from the end of the month in which the ld. DRP directions is received. This provision is mandatory which has placed strict adherence to the ld. A.O. to pass the assessment order even without providing any further opportunity of being heard to the assessee which further implies strict compliance of the said provision. The bench had sought for clarification from the ld. counsels as to the date of receipt of ld. DRP's direction by the ld. A.O. and the ld. AR had submitted the proof of receipt which is found to be on 31.01.2022. From the above observation, it is observed that the ld. A.O. has passed the assessment order beyond the time period prescribed under the provisions of the Act. We, therefore, are inclined to hold the assessment order to be time barred and thereby holding it to be void-ab-initio
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