https://www.taxtmi.com/caselaws?id=470839 Revisionary jurisdiction for failure to make a transfer-pricing reference cannot rest on a related-party purchase transaction formerly covered by an omitted specified domestic transaction provision, where the omission contains no saving clause for pending proceedings. Revision is therefore unsustainable on that basis. An assessment is not erroneous and prejudicial to Revenue merely because no reference was made to the Transfer Pricing Officer where the Assessing Officer obtained and verified transaction details, contracts, ledgers and supporting bills. The discretionary power to make a transfer-pricing reference does not require a reference in every instance, and revision cannot seek a fuller inquiry after an adequate inquiry and considered view. The revisionary order was quashed. en-us Fri, 28 Jan 2022 00:00:00 +0530 Tue, 11 Aug 2026 11:29:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470839 Revisionary jurisdiction for failure to make a transfer-pricing reference cannot rest on a related-party purchase transaction formerly covered by an omitted specified domestic transaction provision, where the omission contains no saving clause for pending proceedings. Revision is therefore unsustainable on that basis. An assessment is not erroneous and prejudicial to Revenue merely because no reference was made to the Transfer Pricing Officer where the Assessing Officer obtained and verified transaction details, contracts, ledgers and supporting bills. The discretionary power to make a transfer-pricing reference does not require a reference in every instance, and revision cannot seek a fuller inquiry after an adequate inquiry and considered view. The revisionary order was quashed. Case-Laws Income Tax Fri, 28 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470839