https://www.taxtmi.com/caselaws?id=344922 Transactions with associated enterprises that fall within the definition of international transaction under section 92B remain subject to transfer pricing provisions even where the assessee follows cash accounting and does not claim a deduction in the relevant year; the jurisdictional objection therefore failed. The arm's length price for services and equipment hire could not be fixed at nil without examining the evidence supporting the actual receipt and value of those transactions, so the nil adjustment was set aside. The matter was remanded for fresh verification and redetermination after giving the assessee an effective opportunity of hearing. en-us Mon, 13 Feb 2017 00:00:00 +0530 Mon, 03 Jul 2017 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344922 Transactions with associated enterprises that fall within the definition of international transaction under section 92B remain subject to transfer pricing provisions even where the assessee follows cash accounting and does not claim a deduction in the relevant year; the jurisdictional objection therefore failed. The arm's length price for services and equipment hire could not be fixed at nil without examining the evidence supporting the actual receipt and value of those transactions, so the nil adjustment was set aside. The matter was remanded for fresh verification and redetermination after giving the assessee an effective opportunity of hearing. Case-Laws Income Tax Mon, 13 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344922