AO required to pass order within time limit prescribed u/s. 153 pursuant to remand by ITAT

Huawei Telecommunications India Company Private Limited Vs ACIT (Delhi High Court) Delhi High Court held that non-passing of order by TPO/ AO pursuant to remand by ITAT within statutory time limit prescribed under section 153 of the Income Tax Act is not justifiable. Accordingly, return filed by the petitioner is considered as accepted. Facts- The petitioner is a company registered under the Companies Act, 1956 and is a subsidiary of Huawei Technologies Coopertief U.A (Netherlands). The return of the petitioner was picked up for scrutiny. AO made additions towards transfer pricing adjustments ...