{"id":10465,"date":"2020-03-16T02:20:48","date_gmt":"2020-03-16T02:20:48","guid":{"rendered":"http:\/\/itatonline.org\/digest\/kayee-pvt-ltd-v-ito-mumtribwww-itatonline-org\/"},"modified":"2021-09-23T10:08:30","modified_gmt":"2021-09-23T04:38:30","slug":"kayee-pvt-ltd-v-ito-mumtribwww-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/kayee-pvt-ltd-v-ito-mumtribwww-itatonline-org\/","title":{"rendered":"Kayee Pvt. Ltd. v. ITO  ( 2020) 188 DTR 1\/ 204 TTJ  921 (Mum.)(Trib) www.itatonline.org"},"content":{"rendered":"<p><strong>The law in Diageo India Pvt Ltd v. Dy CIT (2011) \u00a047 SOT 252 (Mum) (Trib) \u00a0that the definition of &#8220;Associated Enterprises&#8221; in section 92A(1)(a) &amp; (b) is the basic rule which is unaffected by the specific instances referred to in s. 92A(2) is not good law in view of the amendment by the FA 2002 and CBDT Circular No. 8 dated 27.08.2008. The correct law as held in Veer Gems 95 taxmann.16 (Guj) is that S. 92A(2) restricts the scope of S. 92A(1) and it is only when the criterion specified in sub section (2) is satisfied, two enterprises can be treated as associated enterprises. Judgements of non jurisdictional High Courts are binding on the Tribunal .\u00a0 Tribunal held that the relationship between assessee and KES was not AEs and\u00a0 accordingly no arm\u2019s length price\u00a0 adjustments could be made on the transactions between these two entities . Addition is deleted .<\/strong>( ITA No 2165\/Mum\/15, dt. 28.02.2020)(AY. 2007-08)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 92A:Transfer pricing-   Arm\u2019s length price &#8211; Associated enterprises &#8211; Two enterprises can be treated as associated enterprises- Judgements of non jurisdictional High Courts are binding on the Tribunal- Addition is deleted . [ S. 92A(2) , 92C ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10465","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2IN","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10465"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10465\/revisions"}],"predecessor-version":[{"id":21629,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10465\/revisions\/21629"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}