https://www.taxtmi.com/caselaws?id=441689 The Tribunal quashed the final assessment order for AY 2016-17 as it was beyond the statutory time limit, following the precedent set by the Madras HC. The Tribunal also found errors in the TP adjustments and disallowance of management fees, directing the AO to reconsider these issues. It instructed the AO to allow the set-off of brought forward business loss and correct the short credit of taxes. Additionally, the AO was directed to recompute interest under Sections 234A, 234B, and 234C. For AY 2012-13, the case was remanded for re-examination regarding the limitation period. en-us Wed, 03 May 2023 00:00:00 +0530 Fri, 01 Dec 2023 16:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441689 The Tribunal quashed the final assessment order for AY 2016-17 as it was beyond the statutory time limit, following the precedent set by the Madras HC. The Tribunal also found errors in the TP adjustments and disallowance of management fees, directing the AO to reconsider these issues. It instructed the AO to allow the set-off of brought forward business loss and correct the short credit of taxes. Additionally, the AO was directed to recompute interest under Sections 234A, 234B, and 234C. For AY 2012-13, the case was remanded for re-examination regarding the limitation period. Case-Laws Income Tax Wed, 03 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441689