Time barred order passed by TPO is not legally sustainable

ECL Finance Limited Vs ACIT (ITAT Mumbai)

As per sub-section 3 to section 92CA inserted with effect from 1.6.2007 time limit for TPO to pass the order is within the period of sixty days prior to the date of completion of the order as per section 153 of the Act. Since reference under section 92CA sub section (1) has been made to the TPO the time limit for passing the assessment order as per section 153(4) is extended by 12 months from the time limit as in section 153(1) of the Act. Hence, time limit to pass assessment order in this case is 31.12.2016. Si

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