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2022 (1) TMI 1191 - ITAT NAGPURRevision u/s 263 by CIT - AO has erred in not referring case of the assessee to the Transfer Pricing Officer - HELD THAT:- It is undisputed fact that the issue involved in the present appeal is for A.Y. 2016-17. Vide Finance Act, 2017 the Statute was amended by the Legislature, wherein clause (i) of section 92BA was omitted from the statute and the said omission of section is applicable retrospectively and therefore even for the A.Y. 2016-17 non reference to the TPO is not prejudicial to the interest of the revenue. In this regard, we draw strength from the decision of Coordinate Bench of this Tribunal in the case of M/s. S.B. Cotgin Pvt. Ltd. [2021 (7) TMI 283 - ITAT NAGPUR]. Thus by following the order of the Coordinate Bench of this Tribunal above, we quash the impugned order passed U/s. 263 of the Act and the assessment framed by the A.O. U/s. 143(3) of the Act is upheld. - Decided in favour of assessee.
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