https://www.taxtmi.com/caselaws?id=423024 The court quashed the reassessment notice and the orders for reference to the Transfer Pricing Officer, holding that the reassessment proceedings were without jurisdiction. The court found that the petitioner had fully disclosed all material facts necessary for assessment, as evidenced by the Auditor's Certificate and scrutiny during the original assessment. The court also determined that the reference to the Transfer Pricing Officer and the application of Section 69 regarding unexplained investments were unjustified, as the Revenue failed to establish the necessary conditions for invoking Section 147 and did not dispute the petitioner's explanations. en-us Wed, 13 Apr 2022 00:00:00 +0530 Mon, 02 Jan 2023 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423024 The court quashed the reassessment notice and the orders for reference to the Transfer Pricing Officer, holding that the reassessment proceedings were without jurisdiction. The court found that the petitioner had fully disclosed all material facts necessary for assessment, as evidenced by the Auditor's Certificate and scrutiny during the original assessment. The court also determined that the reference to the Transfer Pricing Officer and the application of Section 69 regarding unexplained investments were unjustified, as the Revenue failed to establish the necessary conditions for invoking Section 147 and did not dispute the petitioner's explanations. Case-Laws Income Tax Wed, 13 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423024