Transfer pricing method selection favours TNMM where medical-equipment distribution involves substantial post-import value addition and operational ri...
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ITAT set aside CIT(A)'s ex-parte order for failing to comply with Section 250(6) requirements. The CIT(A) neither provided proper hearing opportunity nor issued a reasoned order addressing appeal grounds. Following judicial precedents establishing that appeals cannot be dismissed for non-prosecution and require speaking orders with substantive findings, ITAT remanded the matter back to CIT(A). The tribunal directed CIT(A) to pass a fresh speaking order after giving the assessee reasonable opportunity of being heard, considering submitted documents, and adjudicating all grounds of appeal in accordance with law and Rule 46A of Income Tax Rules. Appeal allowed for statistical purposes.
ITAT set aside CIT(A)'s ex-parte order for failing to comply with Section 250(6) requirements. The CIT(A) neither provided proper hearing opportunity nor issued a reasoned order addressing appeal grounds. Following judicial precedents establishing that appeals cannot be dismissed for non-prosecution and require speaking orders with substantive findings, ITAT remanded the matter back to CIT(A). The tribunal directed CIT(A) to pass a fresh speaking order after giving the assessee reasonable opportunity of being heard, considering submitted documents, and adjudicating all grounds of appeal in accordance with law and Rule 46A of Income Tax Rules. Appeal allowed for statistical purposes.
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