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| The Tax Publishers2020 TaxPub(DT) 0685 (SC) CONSTITUTION OF INDIA, 1950
Artical 137 Section 261
In view of Circular, dt. 8-8-2019, benefit ought to be extended in favour of Review Petitioner as tax effect in matter was stated to be less than the limit prescribed in the Circular, dt. 8-8-2019, since matter was remanded back to AO so that appropriate reference could be made to TPO, at this stage the benefit of the aforesaid Circular, dt. 8-8-2019 could not be extended. Thus review petition was dismissed.
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Review petition - Determination of ALP - No reference to TPO -
Issue arose under consideration as to whether referring to guidelines issued by the CBDT in Instruction No. 3/2003, Tribunal was right in observing that by not making reference to TPO, AO had breached the mandatory instructions issued by the CBDT Held: In this Review Petition it was urged that in view of Circular, dt. 8-8-2019, benefit ought to be extended in favour of Review Petitioner as the tax effect in the matter is stated to be less than the limit prescribed in the Circular, dt. 8-8-2019. Since matter was remanded back by supreme court in earlier decision to AO so that appropriate reference could be made to TPO, at this stage the benefit of the aforesaid Circular, dt. 8-8-2019 could not be extended. Thus, review petition was dismissed.
REFERRED : Pr.CIT v. S.G. Asia Holdings (India) Pvt. Ltd. [Civil Appeal No. 6144 of 2019, dt. 13-8-2019]
FAVOUR : Against the petitioner
A.Y. :
IN THE SUPREME COURT OF INDIA
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