For AY 2010\u201311, following transfer pricing adjustments and partial relief by the Dispute Resolution Panel, the Tribunal remitted the matter to the AO on 21 October 2020. Because the Tribunal\u2019s order was passed after 1 April 2019, the nine-month period in s. 153(3) is to be read as twelve months; computing twelve months from 21 October 2020 meant the Department\u2019s jurisdiction to make an assessment pursuant to the Tribunal\u2019s direction ended on 21 October 2021. Thereafter, notices issued on 6 March 2023 and 19 March 2023 were time\u2011barred and were therefore quashed and set aside.(AY. 2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 153: Assessment-Limitation-Transfer pricing adjustments-Tribunal\u2019s order remitting matter to Assessing Officer dated 21-10-2020 (after 01-04-2019)-Limitation period of twelve months expired on 21-10-2021-Assessment is barred by limitation. [S. 92CA, 153(3); Art. 226]<\/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-56916","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eO0","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56916","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=56916"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56916\/revisions"}],"predecessor-version":[{"id":56917,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56916\/revisions\/56917"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=56916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=56916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=56916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}