TPO order passed beyond time limit prescribed u/s 92CA (3A) is barred by limitation

Indian Hotels Company Limited Vs DCIT (ITAT Mumbai) ITAT Mumbai held that as per section 92CA (3A) of the Income Tax Act Transfer Pricing Officer (TPO) is required to pass an order within a period of 60 days prior to the date of completion of assessment as per section 153 of the Income Tax Act. Order passed after the date will be barred by limitation. Facts- The Assessee is a domestic company engaged in the business of running hotels and resorts. The Assessee filed a ROI for A.Y. 2011-12 on 30.11.2011 declaring a loss of INR 2,79,87,412/- and paid tax u/s. 115JB of the Act at the book profits ...