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| The Tax Publishers2023 TaxPub(DT) 2471 (SC) : (2023) 454 ITR 0121 INCOME TAX ACT, 1961
Section 260A
Any determination of the arm's length price under Chapter X de hors the relevant provisions of the guidelines, can be considered as perverse and it may be considered as a substantial question of law as perversity itself can be said to be a substantial question of law.
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Appeal [High Court] - Substantial question of law - While determining the arm's length price, Tribunal had not followed the guidelines stipulated under Chapter X, namely, sections 92, 92A to 92CA, 92D, 92E and 92F and rules 10A to 10E -
Assessee having entered into international transactions with AE by way of appeal filed before High Court challenged order passed by Tribunal pleading that while determining the arm's length price, Tribunal had not followed the guidelines stipulated under Chapter X, namely sections 92, 92A to 92CA, 92D, 92E and 92F and rules 10A to 10E. High Court held that where Tribunal determined the arm's length price, the same was final and could not be the subject matter of scrutiny by the High Court in an appeal under section 260A as to substantial question of law was involved. Assessee approached High Court.Held: Any determination of the arm's length price under Chapter X de hors
REFERRED :
FAVOUR : Matter remanded.
A.Y. :
IN THE SUPREME COURT OF INDIA
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