Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
ITAT determined the assessment order under s.153C r/w s.143(3) for AY 2016-17 was barred by limitation. The order dated 21.04.2021 exceeded the statutory deadline of 31.12.2020 by 111 days. Following the legal maxim 'Expressio unius est exclusion alteris', when statute prescribes a specific timeframe, compliance is mandatory and no alternative method is permissible. The assessment should have been completed within prescribed 9 months or 21 months period, whichever is later, per s.153B. Since AO failed to pass the order within statutory limitation period, the assessment was quashed and appellant's appeal was allowed on grounds of time-barred proceedings.
ITAT determined the assessment order under s.153C r/w s.143(3) for AY 2016-17 was barred by limitation. The order dated 21.04.2021 exceeded the statutory deadline of 31.12.2020 by 111 days. Following the legal maxim 'Expressio unius est exclusion alteris', when statute prescribes a specific timeframe, compliance is mandatory and no alternative method is permissible. The assessment should have been completed within prescribed 9 months or 21 months period, whichever is later, per s.153B. Since AO failed to pass the order within statutory limitation period, the assessment was quashed and appellant's appeal was allowed on grounds of time-barred proceedings.
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