Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
The ITAT held that a scrutiny notice issued under section 143(2) by an ITO without jurisdiction over the assessee was invalid, as jurisdiction to complete the assessment lay with the AC/DC and no transfer order under section 127 was produced. It further held that the assessee's participation could not cure this defect: section 292BB applies only where a valid notice exists and the objection concerns service, while section 292B does not validate a notice issued without jurisdiction. Treating the defect as going to the root of the matter, the Tribunal quashed the consequential assessment and left the merits unadjudicated.
The ITAT held that a scrutiny notice issued under section 143(2) by an ITO without jurisdiction over the assessee was invalid, as jurisdiction to complete the assessment lay with the AC/DC and no transfer order under section 127 was produced. It further held that the assessee's participation could not cure this defect: section 292BB applies only where a valid notice exists and the objection concerns service, while section 292B does not validate a notice issued without jurisdiction. Treating the defect as going to the root of the matter, the Tribunal quashed the consequential assessment and left the merits unadjudicated.
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