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| The Tax Publishers2020 TaxPub(DT) 0330 (Del-HC) INCOME TAX ACT, 1961
Section 92C
In light of the submissions made by assessee, question of law framed was answered in favour of assessee. Therefore, appeal was disposed of by directing the Tribunal to hear appeal of assessee, pending before it. Registry was directed to list appeal on 28-01-2020 before Tribunal and till then, no coercive steps be taken against assessee.
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Transfer pricing - Computation of ALP - Application for early hearing and stay application was rejected by ITAT -
The present appeal was filed by assessee against the order passed by Tribunal. Assessee was aggrieved by 'Nil' arm's length pricing fixed by TPO in respect of its transaction with its associated enterprise. Assessee placed reliance on the decision of the Court in CIT v. Cushman and Wakefield India (P.) Ltd., ITA 475/2012, decided on 23-5-2014 to submit that TPO has no jurisdiction to doubt the said transaction and on that basis assess the ALP at Nil. Held: In light of submissions made by assessee, question of law framed was answered in favour of assessee. Therefore, appeal was disposed of by directing the Tribunal to hear appeal of assessee, pending before it. Registry was directed to list appeal on 28-01-2020 before the Tribunal and till then, no coercive steps be taken against assessee.
REFERRED : CIT v. Cushman and Wakefield (India) (P.) Ltd. ITA 475/2012, decided on 23-5-2014
FAVOUR : Appeal to be listed
A.Y. :
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