TMI Blog2023 (7) TMI 401X X X X Extracts X X X X X X X X Extracts X X X X ..... re 60 days prior to the date on which the period of limitation be prescribed u/s 153 expires. In this case, the period of limitation expires on 30th December, 2016, therefore, the Ld. TPO should have passed an order u/s 92CA(3) of the Act on or before 31/10/2016, however, such TP order is passed on 01/11/2016, therefore, naturally the order passed by the Ld. TPO is barred by limitation. In such a situation,in the case of M/s Pfizer India Healthcare Pvt. Ltd. [ 2021 (2) TMI 1152 - MADRAS HIGH COURT ] as the order dated 07/09/2020 has quashed the TPO order. Accordingly, we respectfully following the decision of Hon ble Madras High Court which has been further affirmed by in DCIT Vs. Saint Gobain India Pvt. Ltd [ 2022 (4) TMI 808 - MADRA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... scrutiny. Subsequently, the assessee revised return of income on 31/03/2015 for change in carry forwarding of MAT credit. 3) As the assessee engaged in the business of distribution of Asus Group products in India whereby it purchases Notebooks and Tablets from its associated enterprises and sales the product locally, it entered into several international transaction. Therefore, the reference u/s 92CA of the Act was made to the Addl. Commissioner of Income Tax, [Transfer Pricing Officer-1(1), Mumbai] [ The ld TPO]. 4) The Ld. Transfer Pricing Officer (TPO) passed an order on 01/11/2016 u/s 92CA(3) of the Act by making and upward adjustment to the international transaction of Marketing Service Fees amounting to Rs. 3,51,53,636/-. The Ld ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of the matter and hence, same may be admitted. 10) The Ld. Departmental Representative (Ld. DR) strongly opposed the ground raised by the assessee submitted that these grounds were not raised before the Lower Authorities. 11) We have carefully considered the rival contentions and find that the application for admission of additional ground deserves to be admitted. These grounds are jurisdictional, goes to the root of the matter and do not require any further investigation of facts and, therefore, admitted. 12) As the additional ground is jurisdictional so it is required to be adjudicated first. We find that the Ld. AR submitted that for Asst. Year 2013-14 the time limit of completion of assessment was available of 33 months from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... delez India Foods Pvt. Ltd. vs. ACIT in ITA No.1492/Mum/2015. Therefore, the Ld. AR vehemently stated that this issue is covered in favour of the assessee and as the final assessment order is barred by limitation, it deserves to be quashed. 13) The Ld. Departmental Representative (DR) vehemently supported the order of the Ld. AO and TPO and submitted that same has not barred by limitation but has passed within prescribed limit u/s 153 of the Act. 14) We have carefully considered the rival contention and also considered the argument of both the parties. We have also looked that the relevant provisions of law u/s 92(CA), Sec.153 and Sec.144(C) of the Act and the judicial precedents cited before us. The brief fact emerges is that for Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Accordingly, assessee does not qualify to be an eligible assessee u/s 144C(15)(b). Thus, the moment the order of the TPO is quashed the assessee ceases to be an eligible assessee . Therefore, in that circumstances the time limit for completion of the assessment reverts back to 21months. However, in this case the final assessment order is passed on 26th October, 2017, same is also time barred. Accordingly, the final assessment order is also quashed. We draw support from the decision of the Hon ble Delhi High Court in case of Honda Cars India Limited vs. DCIT, 67 taxmann.com 29 and also of the Co-ordinate Benches in the case of Altos India Pvt. Ltd. (supra) and M/s. Mondelez India Foods Pvt. Ltd. (supra). Accordingly, the final assessment o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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