https://www.taxtmi.com/caselaws?id=459393 ITAT Mumbai held that CIT(A) exceeded jurisdiction by directing AO to compute arithmetic means of 14 companies for transfer pricing comparability analysis without conducting proper inquiry. Under section 251, CIT(A) can confirm, reduce, enhance or annul assessment orders but cannot restore matters to AO. Since CIT(A) issued directions without carrying out inquiry as required under section 250(4), the direction was set aside as not in accordance with law. Matter remanded to CIT(A) for fresh decision with adequate hearing opportunity for both parties. en-us Wed, 31 Jan 2024 00:00:00 +0530 Wed, 11 Dec 2024 18:57:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459393 ITAT Mumbai held that CIT(A) exceeded jurisdiction by directing AO to compute arithmetic means of 14 companies for transfer pricing comparability analysis without conducting proper inquiry. Under section 251, CIT(A) can confirm, reduce, enhance or annul assessment orders but cannot restore matters to AO. Since CIT(A) issued directions without carrying out inquiry as required under section 250(4), the direction was set aside as not in accordance with law. Matter remanded to CIT(A) for fresh decision with adequate hearing opportunity for both parties. Case-Laws Income Tax Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459393