2026 (3) TMI 1487

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.... Ld. 'FAA') in Appeal Nos: 72/2017- 18/CIT(A)-44 & 79/2017-18/CIT(A)-44 arising out of the order dated 30.03.2017 u/s 143(3)/144C/92CA/254 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') passed by the ACIT, Circle-1, Noida for AYs: 2009-10 & 2010-11. 2. At the time of hearing ld. Counsel has pointed out that by an application dated 25.11.2025 assessee has raised additional ground questioning the impugned assessment order dated 30.03.2014 being vitiated as not passed in accordance with procedure set out u/s 144C of the Act. As for convenience the additional grounds is reproduced below: "Ground No. 14: That the final assessment order dated 30.03.2017 is bad in law having been passed in violation of the procedure....

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....e assessing officer but we are of the considered view that in the facts and circumstances as reflecting in the impugned orders no such report is required and the ground is admitted. 4. It comes up that earlier vide order dated 07.01.2016 the Coordinate Bench while dealing with these appeals in hand had set aside, to the files of Assessing Officer, for fresh adjudication in accordance with law, the grounds by which assessee had challenged the impugned orders on the basis that it is a manufacturer also and not mere distributor and as to which method for ALP determination has to be applied and further internal or external comparables are to be adopted and what adjustment claimed by the assessee can be granted. Assessee was not satisfied wit....

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....the income of the assessee by Rs. 13,80,67,817/-. This shall be treated as the cumulative adjustment under Section 92CA and the Assessing Officer may examine issue of initiation of penalty u/s 271(1)(c) of the Act. " 6. The aforesaid observations make it crystal clear that the assessing officer had considered the remand proceedings to be denova assessment proceedings and for that reason the reference to the TPO was made with prior approval of the competent authority and the TPO had also passed afresh order u/s 92CA(3) of the Act. However, as required under law to pass draft assessment order u/s 144C(1) of the Act the assessing officer has not done so and has straight way passed a final assessment order thereby curtailing the valuable rig....