The Tax Publishers2020 TaxPub(DT) 1604 (SC)

INCOME TAX ACT, 1961

Section 261 Section 92CA

Where the Department preferred SLP to appeal against the judgment of Delhi High Court in Indorama Synthetics (India) Ltd. v. Addl. & Jt. CIT & Anr. [W.P.(C) Nos. 6422 of 2013, 4558 of 2014 & 12072 of 2015, CM No. 14002 of 2013, dt. 25-7-2016] : 2016 TaxPub(DT) 3502 (Del-HC), whereby the High Court held that the references made by the AO to the TPO on the question of determination of ALP of the alleged international transactions involving the assessee and its AE have been made without affording the assessee an opportunity of being heard as was required by law that the question of whether or not a reference should be made to the TPO, for the three assessment years in question, would be determined by the AO afresh after giving the assessee an opportunity of being heard in respect of each of the assessment years within the next 15 days and at least, one week's advance notice is to be given to the assessee of the exact date of hearing before the AO, the Supreme Court granted leave to department to appeal thereagainst.

Appeal (Supreme Court) - Special leave petition - Transfer pricing - Computation of ALP--Opportunity of hearing not provided

Department preferred SLP to appeal against the judgment of Delhi High Court in Indorama Synthetics (India) Ltd. v. Addl. & Jt. CIT & Anr. [W.P.(C) Nos. 6422 of 2013, 4558 of 2014 & 12072 of 2015, CM No. 14002 of 2013, dt. 25-7-2016] : 2016 TaxPub(DT) 3502 (Del-HC), whereby the High Court held that the references made by the AO to the TPO on the question of determination of ALP of the alleged international transactions involving the assessee and its AE have been made without affording the assessee an opportunity of being heard as was required by law that the question of whether or not a reference should be made to the TPO, for the three assessment years in question, would be determined by the AO afresh after giving the assessee an opportunity of being heard in respect of each of the assessment years within the next 15 days and at least, one week's advance notice is to be given to the assessee of the exact date of hearing before the AO.Held: The Supreme Court granted leave to department to appeal thereagainst.

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