https://www.taxtmi.com/caselaws?id=331182 The court dismissed the petition challenging the reference made by the Assessing Officer to the Transfer Pricing Officer, allowing the transfer pricing procedure to proceed. It held that the transactions exceeded the prescribed threshold, and the directors and their relatives held substantial interest in the entities involved. The court found the transfer pricing provisions applicable due to transactions with entities where substantial shareholding was held by directors and their relatives, thus upholding the Assessing Officer's actions under the Income Tax Act. en-us Wed, 10 Aug 2016 00:00:00 +0530 Thu, 22 Aug 2019 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331182 The court dismissed the petition challenging the reference made by the Assessing Officer to the Transfer Pricing Officer, allowing the transfer pricing procedure to proceed. It held that the transactions exceeded the prescribed threshold, and the directors and their relatives held substantial interest in the entities involved. The court found the transfer pricing provisions applicable due to transactions with entities where substantial shareholding was held by directors and their relatives, thus upholding the Assessing Officer's actions under the Income Tax Act. Case-Laws Income Tax Wed, 10 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331182