TaxTMI 
TaxTMI 
TaxTMI 
2019 (3) TMI 2006
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....ound of appeal, the Assessing Officer has raised the following grievance: The learned CIT(A) has erred in law and on facts in deleting the upward adjustment of Rs 1,83,53,946 made on international transactions. 4. When this ground was taken up for adjudication, learned counsel for the assessee raised a preliminary objection. He pointed out that the total value of international transactions is Rs 8,36,38,775, as evident from the statement of facts before the CIT(A)- an aspect which is not in dispute anyway, and that, so far as the relevant assessment year is concerned, the reference to the Transfer Pricing Officer, for ascertainment of arm's length price, was required to be made only in the cases where value of international transactions ....
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.... time. As far the Calance Software case (supra), that was a case in which the value of transactions was less than Rs 5 crores and the CBDT circular holding the threshold limit, for reference to the TPO, was placed on record. This will be evident from the following observations made in the said order:- 13. We have heard both the parties and perused the material available on record. At the time of hearing the Ld. AR has taken a ground which is on legal point that as per the Instruction No. 3/2003 issued by the CBDT, the Assessing Officer should have decided the issue of international transaction himself instead of referring it to Transfer Pricing Officer as the quantum of International Transaction is below the monetary limit of Rs.5 crore. ....
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....e-tax authorities as different and distinct authorities. Such different and distinct authorities have to exercise their powers in accordance with law as per the powers given to them in specified circumstances. If powers conferred on a particular authority are arrogated by other authority without mandate of law, it will create chaos in the administration of law and hierarchy of administration will mean nothing. Satisfaction of one authority cannot be substituted by the satisfaction of the other authority. It is trite that when a statue requires, a thing to be done in a certain manner, it shall be done in that manner alone and the court would not expect its being done in some other manner." Therefore, the additional Ground of the assessee is ....
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....nterest @12%, on notional basis, on such interest free advances and allow the interest deduction under section 36(1)(iii) to that extent. Aggrieved, assessee carried the matter in appeal before the CIT(A) and the learned CIT(A), following the view taken by him for the assessment year 2009-10, deleted the said disallowance. The Assessing Officer is aggrieved of the relief so granted by the CIT(A) and is in appeal before us. 10. Having heard the rival contentions and having perused the material on record, we see no reasons to interfere in the matter as learned CIT(A)'s order for the assessment year 2009-10, based on which impugned relief was given, has since been confirmed by a coordinate bench vide order dated 6th September 2016 and the lea....
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....500. The Assessing Officer is aggrieved of the relief so granted by the CIT(A) and is in appeal before us. 14. Having heard the rival contentions and having perused the material on record, we see no reasons to interfere in the matter as learned CIT(A)'s order for the assessment year 2009-10, based on which impugned relief was given, has since been confirmed by a coordinate bench vide order dated 6th September 2016 and the learned Departmental Representative has not been able to point out any material difference in the facts of the case of the said assessment year vis-à-vis the facts of the case of this year. As a matter of fact, there is no dispute that material facts of the case are same. In view of these discussions, as also beari....