{"id":29646,"date":"2022-09-09T14:27:59","date_gmt":"2022-09-09T08:57:59","guid":{"rendered":"https:\/\/itatonline.org\/digest\/neogenetics-foods-p-ltd-v-dy-cit-2022-94-itr-22-sn-bang-trib\/"},"modified":"2024-06-08T19:52:50","modified_gmt":"2024-06-08T14:22:50","slug":"neogenetics-foods-p-ltd-v-dy-cit-2022-94-itr-22-sn-bang-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/neogenetics-foods-p-ltd-v-dy-cit-2022-94-itr-22-sn-bang-trib\/","title":{"rendered":"Neogenetics Foods P. Ltd. v. Dy. CIT (2022) 94 ITR 22 (SN) \/ (2023) 221 TTJ 1029(Bang.)(Trib.)"},"content":{"rendered":"<p>Held, that the reference to the Transfer Pricing Officer in respect of specified domestic transactions mentioned in clause (i) of section\u00a092BA\u00a0was not valid, as the provision had been omitted. Accordingly, the Assessing Officer was to delete the addition relating to specified domestic transactions made under section\u00a092CA\u00a0of the Act. However, the matter was to be restored to the Assessing Officer with the direction to examine the claim of expenditure in terms of the provisions of section\u00a040A(2)\u00a0of the Act.\u00a0 Followed\u00a0 Dy. CIT v. Texport Overseas Pvt Ltd (ITA No. 392 of 2018 dt. 12-12-2019 (Karn.)(HC). Treating the trade credits as cash credits. Matter remanded. (AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 92BA : Transfer pricing-Specified domestic transactions-Reference to Transfer Pricing Officer after provision omitted-Not valid-Assessing Officer to examine claim of  expenditure in terms of  Section  40A(2)-Trade credits-Matter remanded. [S. 40A(2), 68]  <\/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-29646","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7Ia","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29646","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=29646"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29646\/revisions"}],"predecessor-version":[{"id":43467,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29646\/revisions\/43467"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}