https://www.taxtmi.com/caselaws?id=333306 The court dismissed the writ petition challenging the reference made by the Assessing Officer (AO) to the Transfer Pricing Officer (TPO) regarding transactions with associated enterprises. The court emphasized the importance of providing the assessee with a reasoned order and opportunity of hearing before such reference. It held that the AO must determine the international nature of transactions before referring them to the TPO, ensuring compliance with procedural requirements and principles of natural justice. Penalty proceedings were allowed to continue, but implementation of any penalty order was stayed pending a decision on the international nature of the transactions by the DRP or CIT(A). en-us Mon, 03 Oct 2016 00:00:00 +0530 Tue, 31 Jan 2017 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333306 The court dismissed the writ petition challenging the reference made by the Assessing Officer (AO) to the Transfer Pricing Officer (TPO) regarding transactions with associated enterprises. The court emphasized the importance of providing the assessee with a reasoned order and opportunity of hearing before such reference. It held that the AO must determine the international nature of transactions before referring them to the TPO, ensuring compliance with procedural requirements and principles of natural justice. Penalty proceedings were allowed to continue, but implementation of any penalty order was stayed pending a decision on the international nature of the transactions by the DRP or CIT(A). Case-Laws Income Tax Mon, 03 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333306