{"id":15375,"date":"2021-03-02T11:46:07","date_gmt":"2021-03-02T06:16:07","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-obulapuram-mining-company-pvt-ltd-2020-428-itr-322-karn-hc\/"},"modified":"2021-08-29T10:21:29","modified_gmt":"2021-08-29T04:51:29","slug":"pcit-v-obulapuram-mining-company-pvt-ltd-2020-428-itr-322-karn-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-obulapuram-mining-company-pvt-ltd-2020-428-itr-322-karn-hc\/","title":{"rendered":"PCIT v. Obulapuram Mining Company Pvt. Ltd. (2020) 428 ITR 322\/ ( 2021) 199 DTR 223\/ 319 CTR 700\/ 278 Taxman 89 (Karn.)(HC)"},"content":{"rendered":"<p>Court held that the instruction No. 3 of 2003 ([2003] 261 ITR (St.) 51) issued by the Central Board of Direct Taxes states that wherever the aggregate value of international transaction exceeds Rs. 5 crores (amended to Rs. 15 crores), the case must be picked up for scrutiny under section\u00a092CA\u00a0of the\u00a0Income-tax Act, 1961\u00a0and sent to the Transfer Pricing Officer for determination of the arm\u2019s length price. In view of the unambiguous language employed in S. G. Asia Holdings\u2019 case by the Supreme Court Instruction No. 3 of 2003 issued by the Central Board of Direct Taxes is mandatory. (AY. 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 92C : Transfer pricing-Arm\u2019s Length Price-CBDT  Instruction No. 3 of 2003 Mandatory-Precedent. [S. 92CA] <\/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":[21],"tags":[],"class_list":["post-15375","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3ZZ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15375","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=15375"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15375\/revisions"}],"predecessor-version":[{"id":21206,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15375\/revisions\/21206"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=15375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=15375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=15375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}