2020 (1) TMI 1744

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....AR For the Revenue : Mr. A. Mohan, CIT-DR ORDER PER N.K. PRADHAN, A.M.: This is an appeal filed by the assessee. The relevant assessment year is 2014-15. The appeal is directed against the order passed by the Income Tax Officer-12(3)(3), Mumbai (in short 'AO') u/s 143(3) r.w.s. 144C(3) of the Income Tax Act 1961, (the 'Act'). 2. The grounds of appeal filed by the assessee read as un....

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....erred in not issuing a show cause notice before changing the method of transfer pricing and re - computing the income of the assessee. c. The AO has erred in not providing an opportunity of being heard to the assessee before passing the draft order u/s 143(3) r.w.s. 144C(1) of the Act. d. The TPO and AO have without any basis, changed the method of transfer pricing and erred in s....

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.... the limitation period of 30 days for the assessee expired on 27.01.2018. However, the assessee filed its objections before the DRP, Mumbai on 30.01.2018. Since the assessee failed to furnish its objections within 30 days from the date of receipt of the draft order before the DRP, the AO completed the assessment u/s 144C(4) by making an addition on account of upward adjustment in arm's length pric....

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....service of draft assessment order was 29.12.2017, the limitation period of 30 days expired on 27.01.2018, whereas the assessee filed its objection before the DRP on 30.01.2018. Further, it is found that the TPO has not issued a show cause notice before deciding to change the transfer pricing method adopted by the assessee. That reasonable opportunity was not provided by the TPO, is evident from....