Bombay HC Quashes TP Assessment for Missing 30-Day DRP Deadline

Benteler Automotive India Pvt. Ltd. Vs Union of India (Bombay High Court) Bombay HC Holds TP Assessment Time-Barred for Failure to Pass Final Order Within 30 Days of DRP Directions; Quashes Proceedings The petitioner is part of a foreign MNC. It filed return of income for AY 2016-2017. The case was transferred to the transfer pricing officer. A draft assessment order dated 28.11.2019 came to be passed. The petitioner appeared before the DRP: It passed an order dated 22.02.2021 in terms of Section 144C(5) of the Act, directing adjustment and addition of over Rs7.93 crores. directions were issue...