2019 (8) TMI 620

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....e)   Respondent (By Sri. Jeevan J Neeralgi, Advocate)   O R D E R The petitioner has challenged the order dated 22.02.2019 passed by the Income Tax Appellate Tribunal, 'B' Bench, Bengaluru, in SP No.59/BANG/2019 inter alia challenging the assessment Order dated 12.10.2018 passed by Deputy Commissioner of Income Tax Circle 6(1)(2), Bengaluru (Annexure-B) and the consequential Demand No....

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....(b) of the Act. After hearing the petitioner, the Transfer Pricing Officer passed an order under Section 92CA of the Act on 31.10.2017 by making an adjustment of Rs. 94,25,45,710/-. The Assessing Officer passed an assessment order on 12.10.2018 based on the Transfer Pricing adjustment made by the Transfer Officer and made a tax demand of Rs. 9,29,93,360/-. In furtherance to the assessment order, a....

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....though made an endeavor to justify the impugned order fairly submits that the matter requires reconsideration by the ITAT. 5. Having heard the learned counsel for respective parties and perusing the materials on record, it is ex-facie apparent that the order impugned is a cryptic order passed by the ITAT without assigning valid reasons. No stay petition would have been dismissed outrightly for re....