2015 (9) TMI 1529

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....reet Singh Ajmani, Advocates. O R D E R  CM No.19309/2015 1. For the reasons stated in the application, the delay of 49 days in re-filing the appeal is condoned. 2. The application stands disposed of.   3. This is an appeal filed by the Revenue against the order dated 25th November, 2014 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No. 16/Del/13 for the Asse....

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.... 7th October, 2011 recorded reasons for reopening of the assessment for AY 2007-08. Thereafter, the AO passed an order of re-assessment adding a sum of Rs. 2,80,91,619/- to the income of the Assessee. 5. In the appeal filed by the Assessee before the ITAT, a preliminary issue was raised regarding the lack of jurisdiction of the AO to issue notice under Section 148 of the Act, which in effect wa....

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....e determination of ALP for international transactions. Section 92 (1) states that any income arising from an international transaction shall be "computed" having regard to the ALP. The computation of income takes place in assessment proceedings. Section 92 CA (1) of the Act states that where any person "being the assessee" has entered into an international transaction "in any previous year" and th....