Allowing the petition the Court held that, even if the assessee does not report the specified transaction & the AO has no occasion to notice it, the TPO has no jurisdiction to suo moto determine the ALP. He has to call for a reference from the AO-.Alternate remedy is not a bar if the action is without jurisdiction & can be severed from the rest (WP No. 3386 of 2018, dt. 25.03.2019) ( AY. 2015 -16)
Times Global Broadcasting Company Ltd. v. UOI( 2019) 176 DTR 321/ 308 CTR 123 (Bom.)(HC), www.itatonline.org
S. 92C : Transfer pricing-Even if the assessee does not report the specified transaction & the AO has no occasion to notice it, the TPO has no jurisdiction to suo moto determine the ALP-He has to call for a reference from the AO-.Alternate remedy is not a bar if the action is without jurisdiction & can be severed from the rest. [S. 40A (3A), 92BA(i), 92CA, 92E, Art. 226]