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TMI Blog2025 (2) TMI 773X X X X Extracts X X X X X X X X Extracts X X X X ..... r, an Appeal is provided under Section 246A(bb) of the Act. Section 246A(bb) of the Act clearly provides for an Appeal to the Commissioner (Appeals) against the Order made under sub-section (3) of Section 92CD of the Act. 21. In these circumstances, since the efficacious alternate remedy of an Appeal is available to the Petitioner under Section 246A (bb) of the Act, we are not inclined to entertain this Petition and we are inclined to relegate the Petition to the alternate remedy of an Appeal. It has been pointed out to us that, subsequent to the filing of this Petition, an Order has been passed under Section 154 r/w Section 92CD of the Act. The said Order shows that, even as per the Revenue, a sum of Rs. 23,77,74,400/- is refundable to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, order or direction in the nature of Mandamus under Article 226 of the Constitution of India calling for records of the Petitioner's case pertaining to Assessment Year 17-18, and after examining the validity, legality and propriety thereof, quash direct the Respondent No.1 to forthwith issue the refund for A Y 17-18 in accordance with the modified return of income ('Exhibit - H') along with applicable interest." 2. In the present case, the Petitioner filed its Return of Income for Assessment Year 2017-18 on 30th November, 2017, declaring a total income of Rs. 181,90,84,190. It was selected for a scrutiny assessment vide notice dated 26th September, 2018 issued under Section 143(2) of the Income Tax Act, 1961 ("the Act"). 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osal before the DRP, the Petitioner entered into an Advance Pricing Agreement with the Central Board of Direct Taxes on 28th March, 2022. The said Advance Pricing Agreement ("APA"), inter-alia, determined the ALP of the Petitioner's international transactions for Assessment Year 2017-18. Since the Petitioner's assessment proceedings for Assessment Year 2017-18 were ongoing, the Petitioner informed the DRP about the said APA. 9. The DRP provided its directions on 30th May, 2022 to the Petitioner's objections against the draft assessment order for Assessment Year 2017-18. Concerning the APA, the DRP observed that that APA is binding on the Assessee as well as the AO as per the provisions of Section 92CC(5) of the Act. Further, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the DRP directed the AO and the TPO to give effect to their directions as per provisions of Section 144C(13) of the Act. 11. Thereafter, the Petitioner filed a letter dated 8th June, 2022 with Respondent No.2 on 9th June, 2022 explaining that, based on the directions dated 30th May, 2022 of the DRP, concerning the merits of the transfer pricing adjustments, the entire transfer pricing adjustment was liable to be deleted. 12. The Petitioner had filed its modified return of income for Assessment Year 2017-18, in accordance with the APA, on 24th June, 2022, claiming a refund of Rs. 20,50,47,420. Further, as required by Rule 10A of the Income-tax Rules, 1962, the Petitioner filed an 'Annual Compliance Report' in Form 3CEF, inter-alia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent No.1 on 29th March, 2024. 15. It is the case of the Petitioner that Respondent No.1 issued a letter dated 31st March, 2024 purportedly in terms of Section 92CD of the Act. Respondent No.1 enhanced the Petitioner's income declared in the modified return of income by (i) the disallowance of ESOP expenses and (ii) the disallowance under Section 14A of the Act, in pursuance of directions of the DRP dated 30th May, 2022. Respondent No. 1 also directed that credit of taxes paid by the Petitioner ought to be given after verification and that interest ought to be charged in accordance with Section 234A, Section 234B, Section 234C and Section 234D of the Act. 16. The Petitioner, vide letter dated 24th April, 2024, explained to Respondent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... however, in accordance with the extension allowed by Section 92CD( 5)(b) of the Act, the final assessment order ought to have been passed by 30th June, 2023. The Petitioner submitted that since the letter dated 31st March, 2024 is passed beyond this date, it is barred by limitation and is accordingly liable to be quashed. 18. The Petitioner has also relied upon the judgement of this Court in Vodafone India Services (P) Ltd., v/s. Union of India [2013] 39 taxmann.com 201. 19. We are not inclined to go into the merits of the matter for the reasons stated herein below. 20. In our view, what the Petitioner refers to as a letter dated 31st March, 2024 (Exh. 'Q' to the Petition) is not a letter but an Order passed under Section 92CD(3)of the A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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