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Section 153(5) Timeline Binding Even on ITAT Remand: ITAT Delhi
Case Law Details
- Case Name
- Hitachi Astemo Haryana Private Limited Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Delhi
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Hitachi Astemo Haryana Private Limited Vs ACIT (ITAT Delhi)
Three-Month Limit Under Section 153(5) is Mandatory – Returned Income Deemed Accepted as AO Missed Section 153(5) Timeline
Delhi Tribunal allowed the appeal of Assessee by holding that the assessment order passed beyond limitation prescribed u/s 153(5) is invalid & liable to be quashed.
TPO in order dated 29.07.2021 proposed TP adjustments of ₹5.54 crore (manufacturing segment) & ₹5.92 crore (royalty payments). DRP granted relief on manufacturing but sustained royalty addition. AO passed final order u/s 143(3) r...
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