The Assessee filed a NIL return claiming a refund; scrutiny notice under s.143 (2) was issued which was subsequently followed by a reference to TPO. The TPO determined the ALP to be higher than the value of the foreign transactions disclosed by the Assessee; the Revenue issued draft order.

Upon challenge, the Hon’ble DRP directed recomputation, and the Revenue passed final order making TP addition; The Hon’ble Tribunal set aside for breach of natural justice and remanded the issues to the file of the AO, holding that the Assessee had to be provided all information obtained during assessment proceedings so it could respond-and remanded for fresh consideration after giving reasonable opportunity of being heard

The Hon’ble Delhi HC accepted that no final assessment order was passed after remand (Revenue did not file a counter and said files were “untraceable”). The Hon’ble High Court upholding the view held by the earlier decision of the Court in Nokia India (P.) Ltd. v. Dy. CIT [2017] 251 Taxman 85/ [2018] 407 ITR 20 (Delhi)(HC)  held further proceedings to be barred by limitation and directed refund (including further payments) with interest, preferably within 12 weeks. (AY. 2007-08)