https://www.taxtmi.com/caselaws?id=429760 The Tribunal upheld the Principal Commissioner of Income Tax's order under section 263 of the Income-tax Act, 1961, setting aside the assessment order as erroneous and prejudicial to the interest of the revenue due to the Assessing Officer's failure to refer the matter to the Transfer Pricing Officer for determining the Arm's Length Price of international transactions, as mandated by CBDT Instruction No.3/2016. The Tribunal emphasized the mandatory nature of such references, in line with legal provisions and precedents from the Hon'ble Delhi High Court and the Mumbai Bench of the Tribunal. en-us Fri, 21 Oct 2022 00:00:00 +0530 Thu, 03 Nov 2022 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429760 The Tribunal upheld the Principal Commissioner of Income Tax's order under section 263 of the Income-tax Act, 1961, setting aside the assessment order as erroneous and prejudicial to the interest of the revenue due to the Assessing Officer's failure to refer the matter to the Transfer Pricing Officer for determining the Arm's Length Price of international transactions, as mandated by CBDT Instruction No.3/2016. The Tribunal emphasized the mandatory nature of such references, in line with legal provisions and precedents from the Hon'ble Delhi High Court and the Mumbai Bench of the Tribunal. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429760