2023 (4) TMI 1355

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....-58, Mumbai [the learned CIT (A)] for A.Y. 2010-11, wherein appeal filed by the assessee against the assessment order passed under Section 153A read with section 143(3) read with section 144C (13) of the Income-tax Act, 1961 (the Act) dated 27th May, 2014 passed by the Asst. Commissioner of Income Tax, Central Cirlce-20, Mumbai (the learned Assessing Officer), the appeal of the assessee was partly allowed. 02. Against this the learned Assessing Officer has preferred the appeal raising following four grounds of appeal:- "1. on the facts and in the circumstances of the case and in law, the Ld. CIT (A) erred in rejecting the CUP method adopted by TPO for making adjustment of Rs. 5,979,23,256/- in respect of international transactio....

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....icing order under Section 92CA(3) dated 30.01.2014, beyond the time limit prescribed under Section 92CA(3A). The appellants submit that the Transfer pricing order is barred by limitation and, therefore, void ab initio. The appellant pray that the same be quashed. 2. The Assessing Officer erred in passing the final order dated 27.05.2014, beyond the period of limitation prescribed under Section 153* of the Act. The appellants submit that the Assessment Order is barred by limitations and, therefore, void ab initio. The appellant pray that the same be quashed. *In the Additional Ground No. 2, due to typographical error instead of 153B only 153 have been mentioned." 05. After hearing, we find that the additional ground....

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....s barred by the limitation. As the transfer pricing adjustment are invalid, the assessee is not falling in the definition of 'eligible assessee' as per provision of Section 144C (15) of the Act as assessee is not a foreign company. In view of this, the assessment order should have been passed on or before 31st March, 2014 but has been passed on 27th May, 2014. The final assessment order passed is also barred by limitation. 09. On identical facts and circumstances the co-ordinate Bench in ITA No. 1795/Mum/2017 dated 23rd February, 2023 in Atos India Private Limited Vs. DCIT reported in Manu/IU/0160/2023, wherein it has been held that when assessee does not remain eligible assessee there is no extension of time limit available for mak....