Held, that the reference to the Transfer Pricing Officer in respect of specified domestic transactions mentioned in clause (i) of section 92BA was not valid, since the provision had been omitted. Therefore, the Assessing Officer was directed to delete the addition. The Tribunal restored the issue to the file of the Assessing Officer with the direction to examine the claim of expenditure in accordance with the provisions of section 40A(2)(b) of the Act. (AY.2014-15)
Sobha City v. ACIT (2021) 88 ITR 337 (Bang.)(Trib.)
S. 92BA : Transfer pricing-Reference to transfer pricing officer was held to be not valid-Directed to re-examine the issue in terms of section 40A(2)(b) of the Act. [S.40A(2)(b)]