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2009 (12) TMI 116 - HC - Income TaxInternational Transaction under section 92CA, – Arm’s Length Price – The petitioner is a fully owned subsidiary of three companies. The petitioner is filing written objection but not availing of opportunity of personal hearing. In this case Madras High Court dismissed the petition on the grounds of that the petitioner has availed of the personal hearing on the date on which the reply was filed. Since the petitioner had not availed of the personal hearing there was no justification in the plea of the petitioner that the order had been passed on transfer pricing aspect without affording a personal hearing. It is further held that order of the Transfer Pricing Officer binding on the assessing authority the petitioner had a remedy under section 144C of the Act, with the Dispute Resolution Penal. The writ petition stands dismissed
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