https://www.taxtmi.com/caselaws?id=442031 The Tribunal allowed the assessee's appeal and dismissed the Revenue's appeal in a case involving transfer pricing adjustment, limitation period for passing assessment orders, and disallowance of interest on late payment of service tax. The final assessment order was quashed as the transfer pricing adjustment was found to be time-barred, and the disallowance of interest was deemed unjustified. The Tribunal emphasized the mandatory nature of time limits under the Income Tax Act, 1961, and ruled in favor of the assessee on all grounds. en-us Tue, 18 Jul 2023 00:00:00 +0530 Tue, 22 Aug 2023 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442031 The Tribunal allowed the assessee's appeal and dismissed the Revenue's appeal in a case involving transfer pricing adjustment, limitation period for passing assessment orders, and disallowance of interest on late payment of service tax. The final assessment order was quashed as the transfer pricing adjustment was found to be time-barred, and the disallowance of interest was deemed unjustified. The Tribunal emphasized the mandatory nature of time limits under the Income Tax Act, 1961, and ruled in favor of the assessee on all grounds. Case-Laws Income Tax Tue, 18 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442031