9911796707
TMI Blog2024 (12) TMI 481X X X X Extracts X X X X X X X X Extracts X X X X ..... er of Income-Tax (Appeals)-56, Mumbai [hereinafter in short "Ld. CIT(A)"] dated 06.03.2024 pertaining to A.Y. 2016-17. 2. The grievance of the revenue read as under: - "1) Whether on the facts and circumstances of the case and the question of law involved in this case, whether the Ld.CIT(A) has rightly interpreted the section 92CB(3A) of the IT Act with regard to the wording "may be made at any time before 60 days prior to the date on which the period of limitation referred to in section 153 or section 153B for making the order of assessment expires? 2) Whether on the facts and circumstances of the case, the Ld.CIT(A) is justified in deleting the adjustment on technical grounds rather than on merit? 3) Whether on the facts and circum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tically? 8) The Appellant prays that the order of the CIT(A) on the above grounds be set aside and that of the Assessing Officer be restored. 9) The appellant craves leave to amend, or alter any grounds or add a new grounds, which may be necessary.". 3. Cross objection is in support of the order of the Ld. CIT(A). Assessee is also aggrieved that the Ld. CIT(A) has not decided the appeal on merits of the case. 4. The entire quarrel revolves around the interpretation of section 92CA(3A) of the Income-tax Act, 1961 (in short "Act") read with section 153/153B of the Act. The bone of contention is the date of the order of the Transfer Pricing Officer framed under section 92CA(3A) of the Act which is 01.11.2019. The case of the assessee is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sp; Date of TP Order passed u/s 92CA(3A) 1 November 2019 Draft assessment order passed u/s 144C 26 December 2019 Final assessment order passed u/s 144(3) r.w.s 144C(3) 26 February 2020 6. In the light of the aforementioned factual chart, the Transfer Pricing Officer was required to pass order on or before 31.10.2019 i.e., 60 days prior to the date of limitation, therefore the order dated 01.11.2019 is barred by limitation and since the order of the Transfer Pricing Officer is non-est and since this foundation has been removed the final order passed by the Assessing Officer without the order of the Transfer Pricing Officer dated 26.02.2020 becomes barred by limitation. 7. On identical set-of facts, the Hon'ble Madras High Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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