https://www.taxtmi.com/caselaws?id=236836 The Tribunal upheld the Commissioner of Income-tax's order under Section 263, finding the Assessing Officer's failure to conduct proper inquiries resulted in erroneous and prejudicial assessment orders. The Tribunal dismissed the appeals, affirming the need for reassessment and verification of relevant points, including the referral of international transactions to the Transfer Pricing Officer for Arm's Length Price determination. The Tribunal rejected the argument that the Assessing Officer could solely determine the ALP without reassessment on other aspects. en-us Thu, 28 Feb 2013 00:00:00 +0530 Tue, 10 Sep 2013 06:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236836 The Tribunal upheld the Commissioner of Income-tax's order under Section 263, finding the Assessing Officer's failure to conduct proper inquiries resulted in erroneous and prejudicial assessment orders. The Tribunal dismissed the appeals, affirming the need for reassessment and verification of relevant points, including the referral of international transactions to the Transfer Pricing Officer for Arm's Length Price determination. The Tribunal rejected the argument that the Assessing Officer could solely determine the ALP without reassessment on other aspects. Case-Laws Income Tax Thu, 28 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236836