2018 (11) TMI 1629

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... relevant to the assessment year under appeal. Reference u/s. 92CA(1) of the Income Tax Act, 1961 (hereinafter referred to as "the Act") was made to the Transfer Pricing Officer (TPO) for computation of Arm‟s Length Price (ALP) in relation to the international transactions. The TPO vide order dated 15-01-2013 proposed adjustment of Rs. 2,73,38,231/- in respect of international transactions. The Assessing Officer on 28-03-2013 passed final assessment order u/s. 143(3) r.w.s. 144C of the Act and also issued demand notice u/s. 156 and notice u/s. 271(1)(c) of the Act on the same date. The assessee filed appeal before the Commissioner of Income Tax (Appeals) on 25-04-2013 assailing the action of Assessing Officer in passing final assessme....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ng of such defects, when in facts and substance the order is in conformity with the requirements of section 144C (1) of the IT Act 1961. 3. The Id. CIT(A) erred in not applying the principles of "approbate and reprobate" to the assessee who specifically understood the order of the AO dated 07/02/2014 u/s 144C (1) by specifically stating to his appeal to the DRP that it is as an appeal against the impugned draft assessment order. 4. The Id. CIT CA) erred both in facts and in law in not applying the principles of "estoppel by conduct" against the assessee by first treating the order of the AO as draft assessment order and then subsequently altering his decision to the detriment of revenue, in appeal when during the entire as....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.....w.s. 144C without passing draft assessment order in transfer pricing proceedings. 6. The TPO vide order dated 15-01-2013 passed order u/s. 92CA(3) of the Act and proposed addition of Rs. 2,73,38,231/- in respect of international transactions entered into by the assessee. Thereafter, the Assessing Officer vide order dated 28-03-2013 passed the assessment order u/s. 143(3) r.w.s. 144C. Along with the order Assessing Officer also issued demand notice u/s. 156 and notice u/s. 271(1)(c) of the Act on the same date i.e. 28-03-2013. Issuance of notice along with the assessment order clearly suggests that the Assessing Officer had issued the final assessment order. 7. The provisions of section 144C(1) mandates that the Assessing Officer shal....