Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Remand by a tribunal to the Transfer Pricing Officer is legally distinct from a reference initiated by the Assessing Officer; therefore the time-limit for giving effect to a tribunal remand is governed by the statutory provision applicable to fresh orders on appellate remand (the provision corresponding to Section 153(3) and the related giving-effect provision) and not by the extension mechanism that applies only to AO references. Applying the jurisdictional nature of limitation, the court found the period to give effect had expired on 31-03-2024, quashed the communication rejecting refund and directed payment of the excess tax with interest and timelines for compliance.
Remand by a tribunal to the Transfer Pricing Officer is legally distinct from a reference initiated by the Assessing Officer; therefore the time-limit for giving effect to a tribunal remand is governed by the statutory provision applicable to fresh orders on appellate remand (the provision corresponding to Section 153(3) and the related giving-effect provision) and not by the extension mechanism that applies only to AO references. Applying the jurisdictional nature of limitation, the court found the period to give effect had expired on 31-03-2024, quashed the communication rejecting refund and directed payment of the excess tax with interest and timelines for compliance.
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