Tribunal held that in terms of section 144C(15)(b) of the Income-tax Act, 1961, the taxpayer in whose name the transfer pricing proceedings had been concluded and draft assessment order had been passed was not an \u201celigible assessee\u201d, but the erstwhile C, which was not in existence on the date of the orders since C got amalgamated with V with effect from April 11, 2016 and could not be considered an \u201celigible assessee\u201d. Framing the transfer pricing order on the basis of which the draft assessment order had been passed in the name of amalgamating entity was not a curable defect and the assessment framed was bad in law. In the assessee\u2019s own case for the assessment year 2014-15, the Tribunal had decided in the assessee\u2019s favour by treating the order passed by the Transfer Pricing Officer in the name of the amalgamating entity as non est. The assessment in question was liable to be quashed. As a result, the other grounds were not considered. (AY.2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 144C : Reference to dispute resolution panel-Assessment-Limitation-Amalgamation of companies-Draft assessment order passed in name of amalgamated company-Not a curable defect-Order void ab initio. [S. 143(3), 144C(15)(b), 153, 292B] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-18584","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4PK","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/18584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=18584"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/18584\/revisions"}],"predecessor-version":[{"id":26066,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/18584\/revisions\/26066"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=18584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=18584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=18584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}