Income-tax time limits extended by 12 months when a transfer pricing reference to the TPO is made; draft assessment may be prepared up to that limit. Where a reference is made to the Transfer Pricing Officer under section 166(1), the time limit for completion of any assessment, reassessment or ... Summary
Income-tax time limits extended by 12 months when a transfer pricing reference to the TPO is made; draft assessment may be prepared up to that limit.
Where a reference is made to the Transfer Pricing Officer under section 166(1), the time limit for completion of any assessment, reassessment or recomputation in respect of entries in section 286(1) [Table: Sl No. 1 to 4] is extended by twelve months, and the draft of the proposed order of assessment under section 275 may be made at any time up to the applicable (extended) time limit.
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