Timely pronouncement of reserved judgments requires defined timelines, transparency measures, and remedial pathways to protect liberty and effective j...
Settlement-price depression requires proof of manipulation, not merely short exposure, late selling, or below-market orders, preserving disclosure pen...
Income Declaration Scheme declarations can evidence share-capital sources, while round-tripped funds and cash-linked credits require further verificat...
Assessment limitation following remand of a transfer-pricing...
Limitation after transfer-pricing remand: fresh TPO reference did not extend the assessment deadline, rendering the consequential assessment time-barred.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Assessment limitation following remand of a transfer-pricing issue is governed by section 153(3) where the remand is to the Assessing Officer under Rule 28 and requires verification and a hearing. A fresh reference to the Transfer Pricing Officer, absent fresh satisfaction under section 92CA(1), does not attract section 153(4) or extend the completion period; the consequential assessment was therefore quashed as time-barred. Although quoting a DIN in Dispute Resolution Panel directions is mandatory, omission from the directions did not invalidate them where a separate authenticated intimation identified the directions and carried the DIN. The DIN objection was rejected.
Assessment limitation following remand of a transfer-pricing issue is governed by section 153(3) where the remand is to the Assessing Officer under Rule 28 and requires verification and a hearing. A fresh reference to the Transfer Pricing Officer, absent fresh satisfaction under section 92CA(1), does not attract section 153(4) or extend the completion period; the consequential assessment was therefore quashed as time-barred. Although quoting a DIN in Dispute Resolution Panel directions is mandatory, omission from the directions did not invalidate them where a separate authenticated intimation identified the directions and carried the DIN. The DIN objection was rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
