9911796707
TMI Blog2023 (10) TMI 1507X X X X Extracts X X X X X X X X Extracts X X X X ..... 017-18, under section 143(3) r.w.s. 144C(13) of the Income Tax Act, 1961 (for short "the Act") assessee filed this appeal. 2. At the outset, learned AR submitted that though this appeal is preferred on several grounds, the preliminary issue that falls for consideration is in respect of the legality/validity of the final assessment order that was passed on 14/02/2022 subsequent to the order dated 28/01/2022 of the learned DRP giving the direction to accept Sundaram Business Services Ltd., as a comparable company and to consider margins of other alleged comparable companies from the annual reports. He expressed the grievance of the assessee that in spite of such directions, as are acknowledged by the learned TPO in the order dated 23/02/2022 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se proceedings took place during covid period, in the initial period of faceless assessment and appeal proceedings suffering with teething issues. She further submitted that the orders were passed manually and as on the date of the learned Assessing Officer passing the final assessment order, the order of the learned TPO, giving effect the learned DRP's directions, was not available to the learned Assessing Officer. 4. Learned DR further submitted that the learned Assessing Officer passed the impugned final assessment order because he did not receive the effect giving order from the learned TPO and since the time to pass final assessment order was fast approaching, he passed the said order. According to the learned DR, Co-ordinate Benches ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cord in the light of the submissions made on either side. Brief facts are that the determination of the ALP for the international transactions of providing supporting services was referred to the learned TPO for determination of ALP and by order dated 29/01/2021, learned TPO suggested an upward adjustment of Rs. 18,49,57,981/-, incorporating which by way of draft order dated 07/04/2021, learned Assessing Officer determined the income of the assessee at Rs. 18,51,96,717/-. Aggrieved by the same, assessee filed objections before the learned DRP. 7. Learned DRP by order dated 28/01/2022, vide paragraph Nos. 2.1.19 and 2.1.30.10, directed the learned Assessing Officer/learned TPO to include Sundaram Business Services in the list of comparables ..... X X X X Extracts X X X X X X X X Extracts X X X X
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