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2020 (7) TMI 823 - AT - Income TaxRevision u/s 263 - effect of omission of clause (i) of section 92BA w.e.f 01.04.2017 - meaning of “omission” - Specified domestic transactions referred to in clause (i) of section 92BA - reference to Transfer Pricing Officer (TPO) - HELD THAT:- As in respect of specified domestic transactions which is referred to clause (i) of section 92BA of the Act, which was omitted with effect from 01.04.2017 and the effect of such “omission” of clause (i) of section 92BA means that this provision never existed in the statute book, hence reference to TPO was bad in law. As the issue is squarely covered in favour of the assessee by the decision of Coordinate Bench in the case of M/s Raipur Steel Casting India (P) Ltd. [2020 (6) TMI 629 - ITAT KOLKATA] and there is no change in facts and law and the Revenue is unable to produce any material to controvert the above said findings of the Co-ordinate Bench. Therefore, respectfully following the decision of Co-ordinate Bench on the technical issue narrated above we allow appeal of the assessee.
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