CIT v. Veer Gems. (2018) 407 ITR 639 (Guj) (HC) Editorial: SLP of revenue is dismissed ; CIT v. Veer Gems. (2018) 406 ITR 37 ( St)

S. 92A : Transfer pricing – Associated enterprises -Supplier of assessee is not manufacturer — Assessee and supplier Partnership is not controlled by individuals — Neither of Firms holding 10 Per Cent. interest in each other- Not associated enterprises .[ S.92C ]

 

Dismissing the appeal of the revenue the Court held that , supplier of assessee  is not manufacturer .Assessee and supplier Partnership  is not controlled by individuals. Neither of Firms holding 10 Per Cent. interest in each other.  Accordingly the supplier cannot be treated as   associated enterprises .