S. 143(3): Assessment-Jurisdiction-Notices-Assessing Officer or prescribed authority-Powers of Central Board of Direct Taxes to prescribe authority not confined to authorising Income-tax Officers of National Faceless Assessment Centre alone as prescribed authority-Notification issued by Central Board of Direct Taxes authorising Assistant Commissioner or Deputy Commissioner (IT), Circle-1(1)(1)-Notice were within jurisdiction-SLP dismissed. [S.119, 142(1) 143(2), ITAT R, 1962, R. 12E. Art. 136]
S. 139 : Return of income-Delay in filing return-Refunds-Computation of limitation period-CBDT Circular No. 9/2015, para 6 [2015] 374 ITR (St.) 25)-Order rejecting the application was set aside. [S. 139(9), 237, 240, 245, Art. 226]
S. 127 : Power to transfer cases-Transfer of case for effective co-ordinated investigation to avoid loss of revenue-Transfer order stating adequate reasons and centralisation for limited period until conclusion of assessment according to norms and decentralisation thereafter-Communications between transferor and transferee jurisdictional Commissioners indicating their agreement-Assessee given opportunity of hearing-No infirmity in transfer order-Interference in writ jurisdiction not warranted-SLP of assessee dismissed, [S. 127(2), Art. 136]
S. 119 : Central Board of Direct Taxes-Specified authority-Order passed by subordinate with member’s approval-Requirement of authorised authority [S. 119(2)(b), Art. 226]
S. 119 : Central Board of Direct Taxes-Condonation of delay-Delay of 1585 days in filing revised return-Personal hearing mandatory-Violation of natural justice-Order was set aside-Matter remanded to CBDT to pass well reasoned after hearing assessee. [S. 119(2)(b),139, Art. 226]
S. 115JB : Book profit-Limited power of AO-AO cannot go behind audited accounts approved under Companies Act except for adjustments in Explanation. [S. 260A]
S.92CA: Transfer pricing-Reference to Transfer Pricing Officer-Arm’s Length Price-Appropriate method-Transactional Net Margin Method (TNMM)-Resale Price Method (RPM)-No material difference-Tribunal order deleting adjustment affirmed.[S.92C, 260A]
S. 92C : Transfer pricing-Risk adjustment-Tribunal remitted matter for risk adjustment margin-Revenue appeal not maintainable as issue not raised earlier. [S. 260A]
S. 92C : Transfer pricing-CUP method-TPO adopting CUP method unjustified where in subsequent years assessee’s benchmarking method was accepted-Order of Tribunal affirmed. [S. 260A]
S. 92C : Transfer pricing-Arm’s length price-Tribunal after giving detailed reasons rejected comparables selected by TPO-No question of law arose for consideration. [S. 260A]