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2020 (1) TMI 296 - AT - Income TaxTransfer pricing adjustments - Determination of ALP - Disallowance of loss - Bogus loss - HELD THAT:- There is an unequivocal finding in detail that the transactions claimed by the assessee are bogus. AO, the Transfer Pricing Officer as well as the Dispute Resolution Panel have dealt with the issue in detail and thereafter, they have given a clear cut finding that the transactions are bogus. Upon carefully considering the orders of authorities below, we find that all the issues raised by the assessee have been answered elaborately and these orders do not need any interference on our part. Assessee has not given the explanation for the unusual loss despite inquiry. It has also not given details of sister concern. This is vital in view of the dubious nature of layered transaction. - Decided against assessee.
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