https://www.taxtmi.com/caselaws?id=763393 The ITAT Lucknow held that the DRP's direction permitting the AO to decide transfer pricing adjustments on an either-or basis was impermissible under statute. The DRP failed to conclusively adjudicate the ALP determination issue and improperly delegated decision-making to the AO instead of disposing objections strictly under section 144C(8). Following the Karnataka HC precedent in GE India Technologies case, the tribunal ruled that DRP cannot look beyond TPO's proposed variations. The impugned DRP direction and consequential assessment orders were set aside, with matters restored to DRP for fresh consideration with clear directions on confirming, reducing, enhancing, or deleting TPO adjustments. en-us Fri, 12 Jul 2024 00:00:00 +0530 Wed, 18 Dec 2024 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763393 The ITAT Lucknow held that the DRP's direction permitting the AO to decide transfer pricing adjustments on an either-or basis was impermissible under statute. The DRP failed to conclusively adjudicate the ALP determination issue and improperly delegated decision-making to the AO instead of disposing objections strictly under section 144C(8). Following the Karnataka HC precedent in GE India Technologies case, the tribunal ruled that DRP cannot look beyond TPO's proposed variations. The impugned DRP direction and consequential assessment orders were set aside, with matters restored to DRP for fresh consideration with clear directions on confirming, reducing, enhancing, or deleting TPO adjustments. Case-Laws Income Tax Fri, 12 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763393