https://www.taxtmi.com/caselaws?id=312956 ITAT Mumbai held that the TPO's order dated 01.11.2019 was invalid as it exceeded the mandatory time limit under section 92CA(3A) read with section 153 of the Act. The TPO was required to pass the transfer pricing order on or before 31.10.2019, being 60 days prior to the limitation period expiry. Despite section 92CA(3A) appearing directory, courts have consistently held the time limit is mandatory and must be strictly adhered to. The assessee's appeal was allowed due to this procedural violation. en-us Fri, 01 Dec 2023 00:00:00 +0530 Mon, 05 Aug 2024 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312956 ITAT Mumbai held that the TPO's order dated 01.11.2019 was invalid as it exceeded the mandatory time limit under section 92CA(3A) read with section 153 of the Act. The TPO was required to pass the transfer pricing order on or before 31.10.2019, being 60 days prior to the limitation period expiry. Despite section 92CA(3A) appearing directory, courts have consistently held the time limit is mandatory and must be strictly adhered to. The assessee's appeal was allowed due to this procedural violation. Case-Laws Income Tax Fri, 01 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312956