9911796707
TMI Blog2018 (10) TMI 375X X X X Extracts X X X X X X X X Extracts X X X X ..... is filed by the Distributor challenging the order of the Dispute Resolution Panel dated 25.09.2017 and the consequential assessment order dated 03.10.2017. 2. In both the writ petitions the issue raised is one and the same. In respect of the assessment year 2013-14, the return of income tax was filed by the respective writ petitioners along with documents prescribed under the Income Tax Rules by computing arms length price of international transactions. Thus, the assessment was referred to the Transfer Pricing Officer for determining arm's length price. The Transfer Pricing Officer raised objections on the overseas tested party approach adopted by the petitioner. The petitioner filed their analysis also by claiming certain economic a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is concerned, consequent upon such order passed by the first respondent, the Assessing Officer passed the assessment order by taking into account, the directions issued by the Dispute Resolution Panel while recalculating the Transfer Pricing adjustments. Thus, these writ petitions are filed before this Court questioning the above proceedings of the first and second respondent, as stated supra. 4. Mr.Percy J.Pardzwalla, learned senior counsel appearing for the petitioner, apart from raising the contentions touching upon the merits of the matter dealt with by the Transfer Pricing Officer as well as by the dispute Resolution Panel, has mainly emphasised that the first respondent has passed the impugned order in total nonapplication of mind t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ings on each issue. 5. Learned counsel appearing for the respondents contended that the first respondent panel has considered the objections raised by the petitioner and passed the impugned order. 6. Heard both sides and perused the materials placed before this Court. 7. There is no dispute to the fact that in pursuant to the order passed by the Transfer Pricing Officer, the petitioner approached the first respondent and filed the objections by invoking the jurisdiction under Section 144(C) of the said Act. There is no dispute to the fact that the grounds of objections raised by the petitioner contained a detailed list of the objections, namely, Objection Nos.1 to 6B with annexure containing Serial Nos.1 to 10. It is also seen that each ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 days to the Dispute Resolution Panel and the Assessing Officer as contemplated under Section 144C(2). Sub Section 5 of Section 144C contemplates that the Dispute Resolution Panel shall issue such directions as it thinks fit for the guidance of the Assessing Officer to enable him to complete the assessment. But such directions referred to in Sub section 5 shall be issued by the Dispute Resolution Panel only after considering the following as provided under sub section 6, viz., a) draft order; b) objection filed by the assessee; c) evidence furnished by the assessee; d) report, if any, of the Assessing Officer, Valuation Officer or Transfer pricing Officer or any other authority; e) records relating to the draft order; f) evidenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n be called as an order passed with non-application of mind. 9. Therefore, this Court is fully convinced that the matter has to go back to the first respondent for consideration of the objections raised by the petitioner in detail and to pass a fresh order on merits and in accordance with law with reasons and independent findings. Only when such a speaking order is passed by the 1st respondent, the Assessing Officer will be in a position to pass the consequential order of assessment. Since this Court is satisfied to set aside the order of the first respondent, the consequential order passed by the second respondent in W.P.No.26815/2017 is also liable to be set aside. 10. Accordingly, both these writ petitions are allowed and the impugned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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