A reference should be made under section 92CA(1) before the expiry of limitation for passing an Assessment Order under section 153(2). If a reference is made beyond the initial period of limitation for passing an Assessment Order under section 153(2), neither such a reference is valid under section 92CA (1), nor an order passed purportedly in pursuance of such an invalid reference will be a valid Order under section 92CA(3). Since the reference was not made within the period of limitation under section 153(2), the order passed under section 92CA (3) dated 27.1.2022 is without jurisdiction and hence quashed. (AY. 2017-18)
Eaton Power Quality (P) Ltd. v. Dy. CIT (2026) 349 CTR 564 /183 taxmann.com 363 (Mad)(HC)
S. 144C: Reference to dispute resolution panel-Reference to TPO under section 92CA was made on 11-01-2022 after expiry of limitation for passing an assessment order under section 153(2) on 31-03-2021; it was without jurisdiction. The order passed under section 92CA (3) on 27-01-2022 and consequential proceedings under section 144C were set aside. [S. 92CA (3), 153(2), Art. 226]
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