The requirement of “new material” coming in possession of the AO as a prerequisite for the reassessment is applicable only where he made an assessment earlier — as held by MumTrib in ACIT v Maersk Global Service Center (India) P Ltd — In favour of: The assessee.
Transfer pricing — Arm’s length principle — If the TPO wants to exclude any of such comparables given by assessee, he has to justify the exclusion by adducing cogent reasons in absence of same, a presumption has to be drawn that those cases are comparable.
The Departmental Representative, while arguing the appeal, cannot improve the order of the AO/TPO by contending that the TPO was wrong in accepting a particular claim of the assessee.
Decided on: 9 November 2011.
No comments:
Post a Comment