https://www.taxtmi.com/caselaws?id=392503 The Tribunal held that the Assessing Officer's failure to refer the case to the Transfer Pricing Officer for specified domestic transactions did not render the assessment order erroneous or prejudicial to Revenue. The omission of Section 92BA(i) by the Finance Act, 2017, with retrospective effect, meant that the AO's inaction was not grounds for revision. The Tribunal reversed the Principal Commissioner of Income Tax's revision directions and restored the original assessment order, ruling in favor of the assessee. en-us Wed, 19 Feb 2020 00:00:00 +0530 Fri, 21 Feb 2020 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392503 The Tribunal held that the Assessing Officer's failure to refer the case to the Transfer Pricing Officer for specified domestic transactions did not render the assessment order erroneous or prejudicial to Revenue. The omission of Section 92BA(i) by the Finance Act, 2017, with retrospective effect, meant that the AO's inaction was not grounds for revision. The Tribunal reversed the Principal Commissioner of Income Tax's revision directions and restored the original assessment order, ruling in favor of the assessee. Case-Laws Income Tax Wed, 19 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392503