https://www.taxtmi.com/caselaws?id=399484 The Karnataka HC concluded that CBDT Instruction No.3 is binding on the Assessing Officer, particularly after the 2007 amendment to Section 92CA. It held that the Assessing Officer's independent determination of Transfer Pricing adjustments without involving the Transfer Pricing Officer is not valid. The HC reinstated the Commissioner's order under Section 263, overturning the Tribunal's decision. en-us Wed, 30 Sep 2020 00:00:00 +0530 Thu, 07 Nov 2024 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399484 The Karnataka HC concluded that CBDT Instruction No.3 is binding on the Assessing Officer, particularly after the 2007 amendment to Section 92CA. It held that the Assessing Officer's independent determination of Transfer Pricing adjustments without involving the Transfer Pricing Officer is not valid. The HC reinstated the Commissioner's order under Section 263, overturning the Tribunal's decision. Case-Laws Income Tax Wed, 30 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399484