Court held that 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 .( CA NO.6144 of 2019, dt. 13.08.2019) (AY. 2005 -06)
PCIT v. S. G. Asia Holding (I) Pvt. Ltd( 2019)266 Taxman 451/ 108 taxmann.com 213 / 310 CTR 1/ 181 DTR 17 (SC),www.itatonline.org Editorial: Arising from the order PCIT v. S. G. Asia Holding (I) Pvt. Ltd ( 2019) 102 taxmann.com 306 ( Bom) (HC)
S. 92CA: Reference to transfer pricing officer – 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.[ S. 92C, 119 ]