The Assessee filed its return for A.Y. 2009-10 declaring a loss. International transactions were referred to the TPO, who passed an order on 30.01.2013 proposing adjustments. A draft assessment order was issued under section 144C, objections were filed before the DRP and a final assessment order was passed on 21.02.2014. Both parties appealed to the Tribunal which by an order set aside certain additions and remitted the transfer pricing issues directly to the TPO with the consent of parties. Acting in compliance with the Tribunal’s directions, the TPO passed an order on 17.10.2017. However, the Assessing Officer made a fresh reference to the TPO on 27.12.2018. Based on this reference, the TPO passed a second order on 29.10.2019, and a fresh draft assessment order was issued on 27.12.2019. The DRP refused to examine the Assessee\u2019s objection on limitation, holding that its powers under section 144C(8) were confined to confirming, reducing or enhancing variations. The Court allowed the writ petition and decided in favour of the Assessee and held that on a harmonious reading of section 92CA(3) and section 153(3), it was well within the authority of the Tribunal to remit a matter directly to the TPO. There was no justification for the Tribunal to be required to first remit to the AO for a consequential reference where issues relating to an international transaction were the subject matter of the appeal. The TPO had already implemented the Tribunal\u2019s order of 14.07.2017 by its order of 17.10.2017. Thereafter, the AO was obliged only to pass an assessment order under section 92CA (4). The fresh reference was superfluous and could not be sustained under section 153(4), which applies only to references made by the AO in the course of assessment, not to remands by the Tribunal covered under section 153(3). The limitation of nine months computed from 14.07.2017 expired on 31.12.2018, and the Revenue stood deprived of authority to pass any final assessment order for A.Y. 2009-10. The writ petition was accordingly allowed. (AY 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 144C: Reference to dispute resolution panel-Transfer pricing-Assessment-Limitation-Remand by Tribunal directly to Transfer Pricing Officer-Second reference by Assessing Officer after Transfer Pricing Officer had already passed order in compliance with Tribunal’s directions-Superfluous and barred by limitation-Assessing Officer deprived of jurisdiction to pass final assessment order. [S. 92CA,, 153(3), 153(4), 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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-64690","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gPo","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64690","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=64690"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64690\/revisions"}],"predecessor-version":[{"id":64691,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64690\/revisions\/64691"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}