| COURT: | Supreme Court |
| CORAM: | Uday Umesh Lalit J, Vineet Saran J |
| SECTION(S): | 92CA(1) |
| GENRE: | Transfer Pricing |
| CATCH WORDS: | Instruction No.3/2003 dated 20.05.2003, null & void, Reference to TPO, Transfer Pricing |
| COUNSEL: | Arijit Chakravarty, Mahabir Singh |
| DATE: | August 13, 2019 (Date of pronouncement) |
| DATE: | August 14, 2019 (Date of publication) |
| AY: | - |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 92CA(1) Transfer Pricing: CBDT's Instruction No.3/2003 dated 20.05.2003 makes it mandatory for the AO to make a reference to the TPO. The failure to make reference to the TPO renders the Transfer Pricing Adjustments made therein are bad in law though the assessment order is good. The matter should be restored to the file of the AO so that appropriate reference could be made to the TPO | |
In view of the guidelines issued by the CBDT in Instruction No.3/2003 the Tribunal was right in observing that by not making reference to the TPO, the Assessing Officer had breached the mandatory instructions issued by the CBDT
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