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TMI Blog2019 (1) TMI 1898X X X X Extracts X X X X X X X X Extracts X X X X ..... de under section 92CA(1) of the Act, then the Assessing Officer is empowered to pass order under section 143(3) r.w.s. 92CA(3) of the Act within period of three years i.e. upto 31.03.2013 for the captioned assessment year. In the facts of case, where no addition was proposed by the TPO under section 92CA(3) of the Act and since there was reference made to the TPO, assessment order had to be passed within extended period of 12 months i.e. ending by 31.03.2013. However, the assessment order has been passed on 17.06.2013, hence the same is time barred. We find no merit in the objections raised by Revenue that since draft assessment order was passed on 28.03.2013, there is nothing prejudicial to the interest of assessee. It is not draft a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elay and has explained the reason for the aforesaid delay. In the facts and circumstances, the delay in filing Cross Objections late, is condoned. 4. The issue raised in Cross Objections affects the jurisdiction of Assessing Officer in passing assessment order and hence, the same needs to be adjudicated first. 5. The ground of objection No.1 reads as under:- 1. On the facts and in the circumstances of the case and in law, the Learned Deputy Commissioner of Income Tax, Circle 4, Pune ( Assessing Officer ) erred in passing the assessment order under section 143(3) of the Act, even though it was made beyond the time limit specified under section 153(1) of the Act. It is prayed that the said assessment order being time barred ought ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ort from the Assessing Officer. In reply, the Assessing Officer has vide letter dated 24.10.2018 reported that since the TPO had not made any variation to the income or loss returned, which was prejudicial to the interest of assessee, the time barring date to pass the assessment order was by 31.03.2013. The said letter was forwarded to JCIT, who in his communication dated 24.10.2018 has pointed out the said facts but has also said that final order passed by the Assessing Officer was verbatim of draft assessment order and since the draft assessment order was passed well in time and served upon the assessee on 28.03.2013, therefore, it was not prejudicial to the interest of assessee. He also pointed out that the assessee has not raised this g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment order i.e. by 31.03.2012. This is the case when no transfer pricing adjustment was made in the hands of assessee. Sub-section (4) to section 153 of the Act further lays down that where reference was made under section 92CA(1) of the Act during the course of proceedings for assessment / re-assessment, then the period available for completion of assessment or re-assessment, as the case may be, shall be extended by 12 months. In other words, in case reference is made under section 92CA(1) of the Act, then the Assessing Officer is empowered to pass order under section 143(3) r.w.s. 92CA(3) of the Act within period of three years i.e. upto 31.03.2013 for the captioned assessment year. 12. Now, let us look at the provisions of secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order of TPO under section 92CA(3) of the Act and any foreign company. In other words, provisions of section 144C of the Act are attracted where in the case of any reference, any variation is proposed by the TPO under section 92CA(3) of the Act or in the case of any foreign company. It may be pointed out herein itself that the assessee is not eligible assessee; admittedly, it is not a foreign company and also no addition has been proposed by the TPO. Hence, provisions of section 144C of the Act are not attracted. In other words, the Assessing Officer does not get time to pass order within one month from the date when the assessee files his acceptance. 14. In the facts of case, where no addition was proposed by the TPO under section 92CA ..... X X X X Extracts X X X X X X X X Extracts X X X X
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