https://www.taxtmi.com/caselaws?id=312241 ITAT Mumbai held that transfer pricing adjustments relating to Specified Domestic Transactions must be deleted following omission of section 92BA(i) effective 01/04/2017. The tribunal followed Karnataka HC's affirmation in Texport Overseas case that proceedings under omitted provisions cannot continue, despite Mumbai bench's doubt in Firemenich Aromatics case. The matter was restored to AO for examination under section 40A(2)(b) instead. Appeal allowed for statistical purposes with deletion of transfer pricing adjustment directed. en-us Fri, 24 Feb 2023 00:00:00 +0530 Wed, 07 Feb 2024 20:44:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312241 ITAT Mumbai held that transfer pricing adjustments relating to Specified Domestic Transactions must be deleted following omission of section 92BA(i) effective 01/04/2017. The tribunal followed Karnataka HC's affirmation in Texport Overseas case that proceedings under omitted provisions cannot continue, despite Mumbai bench's doubt in Firemenich Aromatics case. The matter was restored to AO for examination under section 40A(2)(b) instead. Appeal allowed for statistical purposes with deletion of transfer pricing adjustment directed. Case-Laws Income Tax Fri, 24 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312241