TATA AIG GENERAL INSURANCE COMAPANY LTD,MUMBAI vs. ASST CIT 2(3), MUMBAI

ITA 3512/MUM/2015Status: DisposedITAT Mumbai30 June 2023AY 2009-1038 pages
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What did the Tribunal hold?

The Tribunal held that the Transfer Pricing Officer's order was passed beyond the period of limitation and was therefore bad in law. Consequently, the final assessment order was also deemed invalid and quashed.

What were the facts?

The assessee's appeal concerns the assessment year 2009-10. The core issues revolve around the validity of the Transfer Pricing Officer's (TPO) order and the subsequent assessment order, which the assessee claims were passed beyond the period of limitation.

What were the issues?

Whether the Transfer Pricing Officer's order and the subsequent assessment order were passed within the prescribed period of limitation under the Income Tax Act.

Which sections of the Income-tax Act were involved?

Section 92CA,Section 153,Section 143(3),Section 144C

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Income Tax Appellate Tribunal, “J” BENCH, MUMBAI

Before: SHRI ABY T. VARKEY, JM & SHRI AMARJIT SINGH, AM

For Appellant: Shri Percy Pardiwala/Shri Nishant, Ms. Jasmin Amalsadvala
Hearing: 24/04/2023Pronounced: 30/06/2023

PER ABY T. VARKEY, JM: This is an appeal preferred by the assessee against the order of the Ld. Commissioner of Income Tax (Appeals)-58, Mumbai dated 09.03.2015 for AY. 2009-10. 2. The additional grounds of appeal preferred by the assessee reads as under: - “Modified Additional Ground No.1 - (The Additional ground No. 1

1.

The transfer pricing order dated 30 January 2013 passed by the learned Additional Director of Income-tax, Transfer Pricing - (6), Mumbai (the ‘lea

The order continues below.

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