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2011 (12) TMI 227 - BOMBAY HIGH COURTTransfer Pricing – A.O. seeked approval of Commissioner for reference u/s 92CA(1) to the Transfer Pricing Officer(TPO) – reliance placed upon an Instruction no. 3/2003 of the CBDT which stipulates that all cases where international transactions exceeding Rs. 15 crores are involved, shall within the meaning of Section 92 be selected for compulsory scrutiny – assessee contended breach of the principles of natural justice by the TPO, invalidity of approval granted by the CIT to the A.O. for reference u/s 92CA(1) and order of TPO – Held that:- In the present case, Commissioner granted his approval on 30 September 2009 and TPO issued a notice to the Assessee on 3 March 2010. The Petitioner participated in the proceedings before the TPO and submitted its representations. The TPO has now rendered a determination on 31 October 2011. At this stage, it would be inappropriate for this Court to exercise its writ jurisdiction under Article 226 of the Constitution to entertain a Petition challenging the validity of the reference made by the A.O. to the TPO on 9 October 2009 and the underlying approval of the Commissioner dated 30 September 2009, both of which have been issued over two years ago. Petitioner has a remedy of moving appeal against the draft order before the Dispute Resolution Panel. - Decided against the assessee.
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