9911796707
TMI Blog2016 (11) TMI 1383X X X X Extracts X X X X X X X X Extracts X X X X ..... NDENT : MR M R BHATT, ADVOCATE WITH MS MAUNA M BHATT, ADVOCATE ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE M.R. SHAH) 1. Rule. Mrs. Mauna N. Bhatt, learned advocate waives service of notice of rule on behalf of the respondents. In the facts and circumstances of the case and with the consent of the learned advocates appearing for the respective parties, the present petition is taken up for fina ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioner - assessee. 4. Mr. R. K. Patel, learned advocate appearing on behalf of the petitioner - assessee has heavily relied upon para 3.4 and para 7 of the instructions issued by the CBDT vide Instruction No.3/2016 dated 10th March, 2016. Learned advocate for the petitioner - assessee has also heavily relied upon the decision of the Delhi High Court in the case of Indorama Synthetics (India) Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m the same. 6. On the other hand, it is the case on behalf of the assessee that the aforesaid was a mistake on the part of the Chartered Accountant, and, according to the assessee, the aforesaid transaction does not amount to any transaction with the relative and, therefore, Section 92E shall not be attracted. 7. Having heard the learned advocates for the respective parties and considering the m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . For that purpose, as agreed between the learned advocates for the respective parties, the communication of the reply dated 22.1.2016 be treated as objection raised by petitioner - assessee against making a reference to the TPO. At this stage, Mr. M. R. Bhatt, learned advocate appearing on behalf of the revenue has apprehended that if the matter is remanded and the Assessing Officer is required t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reby quashed and set aside and the matter is remitted to the Assessing Officer to pass a speaking order while making a reference to the TPO (after considering the objection raised by the petitioner - assessee). Such exercise shall be completed within a period of four weeks from today. As agreed by learned advocate Mr. R. K. Patel appearing on behalf of the petitioner - assessee, if, on remand, aft ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
