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2011 (12) TMI 227 - HC - Income TaxTransfer 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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