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High Court stays 5 Member Special Bench judgement on transfer pricing
In admitting the appeal filed under section 260A against the judgement of the 5 Member Special Bench of the Tribunal in Aztec Software vs. ACIT 294 ITR (AT) 32 / 107 ITD 41, the High Court has granted stay of “the operation and all further proceedings” of the said judgement until further orders.
Note: The judgement of the Special Bench deals with various Transfer Pricing issues. No reasons are given in the High Court’s order on why stay was granted.
See Also: Transfer Pricing: A definitive Guide.
Related Judgements
- Philips Software vs. ACIT (ITAT Bangalore) (4 MB)
The AO/TPO have to satisfy and communicate to the taxpayer which one of the four conditions prescribed in s. 92C (3) are satisfied before applying the transfer pricing provisions and the failure to demonstrate this to the assessee renders the transfer pricing order void
- Sahney Kirkwood vs. ACIT (Bombay High Court)
Where the question arose whether in respect of an appeal admitted u/s 260A, the High Court has power to grant stay of recovery of outstanding demand, HELD:
(i) S. 260A provides that the provisions of the Code of Civil Procedure relating to appeals to the High Court shall apply;(ii)…
- M/s SCM Creations vs. ACIT (Madras High Court)
In ACIT vs. Rogini Garments 108 ITD 49, the Chennai Special Bench of the ITAT held that in view of s. 80-IA (9), relief under s. 80-IA had to be deducted from the profits and gains before computing relief u/s 80-HHC. M/s SCM Creations was an intervener in that…
April 8th, 2009 at 1:35 pm
[...] Note: The “operation and all further proceedings” of the said judgement has been stayed by the Kar…. [...]