आदेश / ORDER

Manoj Kumar Aggarwal (Accountant Member)

1. Aforesaid appeal by assessee for Assessment Year (AY) 2016-17 arises out of the order of learned Commissioner of Income Tax (Appeals)-16, Chennai [CIT(A)] dated 23-03-2023 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) r.w.s 144C(3) of the Act on 28-02-2020. The assessee is aggrieved by disallowance u/s 14A; disallowance u/s 35(2AB) and disallowance u/s 2(24) r.w.s. 36(1)(va).

2. From the facts, it emerges that the assessee filed its return of income for this year on 30-11-2016. A reference u/s 92CA of Income Tax Act was made to Ld. Transfer Pricing Officer 2(2), Chennai wherein Ld. TPO, vide order dated 01-11-2019, proposed certain transfer pricing (TP) adjustment. Pursuant to the same, Ld. AO framed an assessment u/s 143(3) r.w.s. 144C(3) on 28-02-2020. Upon further appeal, Ld. CIT(A) partly allowed the appeal of the assessee against which the assessee is in further appeal before us.

3. The Ld. AR, at the outset, tabulated the sequence of assessment proceedings to demonstrate that the assessment order is time barred and accordingly null and void. The submissions made by Ld. AR read as under: -