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.<\/p>\n
Upon challenge, the Hon\u2019ble DRP directed recomputation, and the Revenue passed final order making TP addition; The Hon\u2019ble 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<\/p>\n
The Hon\u2019ble Delhi HC accepted that no final assessment order was passed after remand (Revenue did not file a counter and said files were \u201cuntraceable\u201d). The Hon\u2019ble 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)\u00a0 held further proceedings to be barred by limitation and directed refund (including further payments) with interest, preferably within 12 weeks. (<\/strong>AY. 2007-08)\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" S. 143(3): Assessment-Appellate Tribunal-Reamnd-When an assessment is remanded by the ITAT and no final assessment order is passed pursuant to the remand, any further proceedings become time-barred-The AO must accept the return and refund amounts due, with interest. [S.92C, 143(2), 254(1), 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-59577","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fuV","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59577","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=59577"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59577\/revisions"}],"predecessor-version":[{"id":59578,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59577\/revisions\/59578"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=59577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=59577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=59577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}