2017 (1) TMI 1825 - AT - Income Tax

TP Adjustment - selection of MAM - whether CIT(A) erred in by deleting the entire addition on account of transfer pricing by without going to merits of case and facts and ignored the TPO s contention submitted through remand report and the directions of Hon ble ITAT that the Arms Length price of international transactions of the appellant should be determined at entity level by following TNM method? - HELD THAT - When this appeal came up for hearing learned representatives fairly agreed that this appeal is ill-conceived inasmuch as the impugned order only gives effect to the Tribunal s order which is already in appeal before the Hon ble High Court. The grievance before us is thus clearly misplaced. Appeal dismissed.

Summary

The Appellate Tribunal ITAT Ahmedabad dismissed the appeal by the Assessing Officer challenging the correctness of the CIT(A)'s order on transfer pricing, as it was already under appeal before the High Court. The appeal was deemed ill-conceived and was dismissed on 24th January 2017.