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2022 (3) TMI 1499 - AT - Income TaxTP adjustment in Specified Domestic Transactions - Upward adjustment u/s 92 BA (i) - TPO based on the comparative chart filed by the assessee found that there were instances wherein the difference between the actual price of the assessee and the comparable cases is more than the acceptable range of +(-) 3% of the ALP - HELD THAT:- the impugned transaction has been removed from the scope of Specified Domestic Transactions by way of an amendment by the Finance Act, 2017 with effective from 01/03/2017. Accordingly, once the provision of section 92BA(i) of the Act, has been deleted from the statute, then it has to be construed as if such provision has never existed under the provision of law. Accordingly, no upward adjustment can be made. We note that the identical issue has been decided by this Tribunal in favor of the assessee in the case of Ammann India (P) Ltd. [2022 (1) TMI 411 - ITAT AHMEDABAD] no justification in passing the impugned order by the Transfer Pricing Officer/Assessing officer in making upward adjustment invoking section 92- BA (i) of the Act in the present facts and circumstances of the case particularly when the said section stood omitted with effect from 1-03-2017 from the statute itself. Appeal of assessee allowed.
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