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2013 (7) TMI 804 - AT - Income TaxJurisdiction power u/s 263 by CIT(A) - as per CIT AO had completed the assessment without examining/referring some transactions to the Transfer Pricing Officer to determine whether these investments were made at arm's length - Held that:- The amount representing 2118.84 is towards investment in share capital of the subsidiaries outside India as the transactions are not in the nature of transactions referred to section 92-B and the transfer pricing provisions are not applicable as there is no income. Accordingly, the order passed by the CIT u/s 263 set aside and that of the AO is restored and the grounds raised by the assessee in this regard are allowed.
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