No TPO Variation, No DRP Route: Assessment u/s 144C Quashed as Without Jurisdiction

PHI Seeds Pvt. Ltd. Vs DCIT (ITAT Delhi) The assessee’s assessment was completed through the draft assessment/DRP mechanism under section 144C after a reference to the Transfer Pricing Officer (TPO). However, the TPO, in his order under section 92CA(3), accepted that all international transactions were at arm’s length and made no variation to the returned income. Raising an additional legal ground before the Tribunal, the assessee contended that in the absence of any TPO variation, it did not qualify as an “eligible assessee” under section 144C(15). Therefore, the Assessing Officer had...