9911796707
Advanced Search 
TMI Blog2024 (9) TMI 912X X X X Extracts X X X X X X X X Extracts X X X X ..... iny and the notice dated 29th June 2021 under Section 143(2) of the Income Tax Act, 1961 (the Act) was issued. Since petitioner was also eligible assessee, reference was made for determining Arm's Length Price (ALP) to Transfer Pricing Officer (TPO). The TPO passed an order dated 22nd July 2023 under Section 92CA(3) of the Act proposing downward adjustment with regard to reimbursement of GIT cost to the tune of Rs.9,41,54,166/-. 4. Draft assessment order under Section 144C(1) of the Act was sent to petitioner on 23rd September 2023 proposing variations. Petitioner was given 30 days on receipt of the draft to respond whether it accepts the proposed variations or objects. Petitioner received draft assessment order through E-mail dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2023 and therefore by 30th November 2023 Respondent No.1 had to complete the assessment. As the assessment order has been passed only on 27th December 2023, the same is barred by limitation. Mr. Gandhi also relied upon the judgment of this court in Renaissance Services BV vs. Deputy Commissioner of Income Tax (International Tax). (2022) 139 taxmann.com 450 (Bombay) 6. Other grounds have been raised and in our view we need not refer to these grounds. The affidavit in reply has been filed through one Mr.Harish S. Kelkar, Assistant Commissioner of Income Tax - 1(2)(1), Mumbai affirmed on 12th April 2024. In the affidavit in reply it is stated that the draft order dated 23rd September 2023 under Section 144C of the Act was sent to assessee on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in terms of prayer clause - (a) which reads as under : (a) that this Hon'ble Court may be pleased to issue a Writ of Certiorari or a Writ in the nature of Certiorari or any other appropriate Writ, Order or direction, calling for the records of the Petitioner's case and after going into the legality and propriety thereof, to quash and set aside the final assessment order passed under section 143(3) read with section 144C(3) and 144B of the Act dated 27.12.2023 (Exhibit C), notice of demand in Form No.7 dated 27.12.2023 (Exhibit D) and the show cause notice dated 27.12.2023 for levy of penalty u/s 274 r.w.s. 270A of the Act (Exhibit E). 9. Petition disposed. 10. Copy of this order be sent to the Principal Chief Commissioner of Income Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
