High Court Emphasizes Adherence to Chapter X for Efficient Transfer Pricing Dispute Resolution in International Transactions.

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....TP Adjustment - Pre-mature writ petition - Assessee's digression is self defeating and defeats the very purpose of quicker assessments sought to be achieved in the special law relating to international transactions envisaged in the Chapter X of the Income Tax Act provided for assessment of international transactions, so that an image of balanced approach by IT authorities can be projected on the international horizons. Many other developed countries provide for such quicker management of tax dispute resolution. - HC....