TaxTMI 
TaxTMI 
2022 (12) TMI 1205
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.... assessment order dated 07.03.2018 passed under Section 143(3) of the Act r.w. Section 144C r.w. Section 144B of the Act. 2. The grounds of appeal raised by the assessee reads as under: "1. The Ld. CIT(A) has erred in dismissing the ground no. 1 because of (a) The Ld.CIT(A) has erred in disposing ground No. 1 of the appeal of the assessee holding the same as general in nature whereby, the same was as under mentioned in form 35:- That the impugned assessment order passed is bad in law and nature and it is liable to be quashed as:- i) The said order has been passed being barred by law of limitation. ii) The order has been passed after making additions without following the principle of natural j....
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.... 3. That the Id CIT(A) has erred in confirming the purchases as bogus, to the tune of Rs.2,04,02,797/- calculated at Average G.P. Rate @ 16.26% of Rs. 12,54,78,457/-, inspite of the following facts 85 submission made before her. (a) That payments to the suppliers have been made through RTGS, banking channels; (b) That the assessee has paid Entry Tax of these purchases, while entering goods in Punjab; (c) That the goods so purchased are duly entered in Stock Inward Register; (d) That all such purchases were duly supported by way bills, Bilty Etc. (e) That all purchases, when sold are duly entered in Sale Register; (f) That assessee company is an excisable unit 8s excise duty has also been....
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....the Employee's contribution to PF & ESI is governed by the provision of section 2(24) read with section 36(1)(va) and not by section 43 B of the Income Tax Act, 1961 ("the act") 3. Whether on the facts and circumstances of the case, the Ld. CIT(A) has erred in deleting the addition of Rs.14,400/- made by AO on account of disallowance of expenditure incurred on Club Fees of Directors, failing to appreciate the claim of the assessee was founded only an unsubstantiated explanation and neither during assessment proceedings nor during appellate proceedings, the assessee furnished any details or documents establishing the nexus of the expenditure with its business. 4. Whether on the facts and circumstances of the case, the Ld. C....
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....the details of domestic transactions undertaken by the assessee with its Associate Enterprises (AE) was admittedly worked out at Rs.4,94,91,268/-. It was thus contended that the very reference to the TPO for passing the order under Section 12CA(3) was without sanction of law as the aggregate value of specified domestic transactions were less than threshold monetary limit of Rs.5 crore at the relevant time as specified under Section 92BA of the Act. It was next contended that extension of time limit of assessment by another 12 months as per provisions of Section 153 of the Act was thus not available to the Assessing Officer based on such non-est order of TPO in the instant case. As a sequel, the time limit available for passing the assessmen....
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....tion 92A(3) of the Act in pursuance of such reference. 5.2 It is the case of the assessee that reference made to the TPO in the instant case without fulfilling the conditions of threshold of Rs.5 crore monetary limit is without the sanction of law in view of the Section 92BA of the Act. This being so, the assessee is not entitled for extension of time limit provided under Section 153(4) of the Act by extended period of another one year which is applicable only where the reference to the TPO has been validly made within the frame work of law. 6. We find palpable merit in the plea expounded on behalf of the assessee. It has been demonstrated in the instant case that the threshold monetary limit of Rs.5 crore was not available to the Ass....