https://www.taxtmi.com/caselaws?id=239395 The court upheld the Dispute Resolution Panel's decision, affirming the addition of Rs. 1,61,33,111/- to the assessee's income for gas imports from the Associated Enterprise. The court also supported the initiation of penalty proceedings under section 271(1)(c). It found the DRP's methodology for determining the arm's length price and freight charges, based on distance, to be reasonable and appropriate, dismissing the assessee's appeal. en-us Fri, 08 Nov 2013 00:00:00 +0530 Wed, 13 Nov 2013 08:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239395 The court upheld the Dispute Resolution Panel's decision, affirming the addition of Rs. 1,61,33,111/- to the assessee's income for gas imports from the Associated Enterprise. The court also supported the initiation of penalty proceedings under section 271(1)(c). It found the DRP's methodology for determining the arm's length price and freight charges, based on distance, to be reasonable and appropriate, dismissing the assessee's appeal. Case-Laws Income Tax Fri, 08 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239395