9911796707
|
Home
Issues involved: Appeal against order of Dispute Resolution Panel u/s 144C of the I.T. Act, 1961 regarding transfer pricing matter.
Summary: The appeal was filed by the assessee against the order of the Dispute Resolution Panel (DRP) dismissing objections to the draft assessment order. The appellant submitted detailed objections related to transfer pricing, consisting of six grounds supported by relevant documents. However, the DRP's order only broadly dealt with Arms Length Price and use of current year data, failing to adjudicate on all objections raised. The appellant argued that the DRP's order was cryptic and did not address all grounds, citing the necessity for detailed and cogent reasons as per legal precedent. The revenue's representative contended that all grounds were considered together due to factual and legal interconnection. Considering the lack of detailed findings from the DRP, it was deemed appropriate to remit the matter back for proper adjudication on all objections and grounds raised by the assessee. The Tribunal emphasized the need for a comprehensive and elaborate order in accordance with legal requirements and procedural standards. Consequently, the appeal was allowed, and the case was remitted back to the DRP for fresh adjudication with specific directions. The order was pronounced in the open court on 12th April, 2012.
|
