2023 (2) TMI 1467

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.... of the case are as under: - The assessee is engaged in providing contract software development services (SDW) and Market supporting services (MSS) to its Associated Enterprises (AEs). For AY 2017-18 return of income was filed declaring total income of Rs. 46,61,80,560/-. The assessment was selected for scrutiny and notice under Section 143(2) of the Act was issued on 10.08.2018. During the course of assessment proceedings the matter was referred to the Transfer Pricing Officer (TPO) to determine the arm's length price (ALP) of the international transaction undertaken by the assessee with its AEs. The TPO passed an order under Section 92CA of the Act on 24.01.2021 determining TP adjustment of Rs. 28,29,17,525/- in respect of service ....

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....in conformity with the provisions of the Act and hence, bad in law and void-ab-initio and is liable to be quashed." 5. Vide the above ground the assessee challenges the validity of the final assessment order as time barred. The learned A.R. submitted that the DRP's directions in this case was passed on 24.01.2022 and were communicated to the assessee on 24.01.2022 by an upload of ITBA system and subsequently vide email on 03.02.2022. It was stated that being the case in terms of Section 144C(13) of the Act, the final assessment order ought to have been passed on 28.02.2022 (i.e. one month from the end of the month in which the directions were received). Therefore the impugned order passed on 05.08.2022 is barred by limitation. In this co....