Tribunal Nullifies AO's Order for Exceeding Time Limit in Telecom Equipment Manufacturer's Appeal.

The ITAT allowed the appeal filed by the assessee, engaged in manufacturing telecommunication equipment, against the AO's order u/s 143(3) r.w.s. 144C(13) of the Income Tax Act, 1961. The tribunal found the AO's final order exceeded the statutory limitation period, rendering it null and void. Consequently, the Stay Application was dismissed as infructuous.

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Issues involved: Appeal against order u/s 143(3) r.w.s. 144C(13) of the Income Tax Act, 1961.

Summary:
The appeal and Stay Application were filed by the assessee against the order dated 26.03.2022 passed by the Assessing Officer (AO) u/s 143(3) r.w.s. 144C(13) of the Income Tax Act, 1961. The assessee is engaged in the business of manufacturing telecommunication equipments and providing maintenance services in India. The key dates involved in the case include the date of filing return, order of the Transfer Pricing Officer, draft order by the AO, order of the Dispute Resolution Panel, and the Assessment Order. The AO rebutted the issue of the order being "barred by limitation." The provisions of Section 144C were examined, emphasizing the process involving the draft order, objections by the assessee, and completion of assessment by the AO. After hearing arguments and reviewing the material, it was concluded that the final order by the AO exceeded the period of limitation as per u/s 144C, rendering it null and void. Consequently, the appeal of the assessee was allowed, and the Stay Application was dismissed as in fructuous. The order was pronounced in the Open Court on 13/03/2023.

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