2023 (3) TMI 1586

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....that the only ground on which he would be making submissions is ground No.1 challenging validity of the final assessment order, on the ground of limitation. The ld. Counsel for the assessee submits that in case ground No.1 of the appeal is allowed, the other grounds of appeal would become academic. 3. The ld. Counsel for the assessee submits that the impugned assessment order is barred by limitation and hence, is null and void. Giving the sequence of events and relevant timelines, the ld. Counsel for the assessee furnishes a chart, the same is reproduced herein below: Sr. No. Particulars Relevant Timelines * Actual Dates A Transfer Pricing Order u/s.92CA(3) of the Act 31 January 2021* 20th January 2021 B Draft Assessment Order U/....

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.... 2021 and the due date was extended to 30 June 2021. Now the due date has been extended by CBDT Notification No. 74/2021 and press release dated 25 June 2021. *** CBDT Circular No. 12/2021. dated 25 June 2021 provided that Objections to DRP and Assessing Officer under Section 144C of the Act. for which the last date of filing under that Section is 1st June. 2021 or thereafter, may be filed within the lime provided in that Section or by 31st August.2021, whichever is later". 3.1 The ld. Counsel for the assessee submits that as per the scheme of section 114C, the Assessing Officer had time to pass the assessment order u/s. 144C(13), within one month from the end of the month in which directions are received. The directions from the Dispute....

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....ave heard the submissions made by rival sides. The sequence of events and timeline for passing orders furnished by the ld. Counsel for the assessee reflecting dates of orders passed by various authorities for the Assessment Year 2017-18 in the case of assessee has not been disputed by the Revenue. The DRP directions are dated 23/12/2021. As per communication dated 12/09/2022 (e-mail from Mumbai : mumbai.ito.hq.drp1) from the DRP, directions u/s. 144C(5) of the Act in the case of assessee for Assessment Year 2017-18 were passed and uploaded in ITBA System on 23/12/2021. Thus, DRP directions were communicated to the Assessing Officer in December, 2021 itself. No material has been placed on record by the Revenue to contend that DRP directions ....