Effect of Section 92CA(1) Reference on Assessment Limitation: Application of Section 153(4) in Transfer Pricing Assessments

Transfer pricing assessments: outer statutory limitation governs final orders; DRP deadlines do not enlarge the overall limitation.

The tribunal permitted admission of additional legal grounds based on facts on record and held that the outer statutory limitation governs final assessments in eligible-assessee transfer pricing cases. The dispute-resolution procedural deadline requires prompt action after directions but does not enlarge the overall limitation; statutory extension available for transfer pricing references is to be applied to the outer limit, and external judicial limitation extensions do not extend the time for completing original assessments.