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TMI Blog2024 (9) TMI 533X X X X Extracts X X X X X X X X Extracts X X X X ..... ind the undisputed fact that Section 92CA of the Act confers a statutory power on the AO to make a reference to the TPO. An Instruction of the Board and the Risk Parameters, which may have been framed, are merely to act as guides for the purposes of exercise of that power. We fundamentally bear in mind the fact that the petitioner seeks to invoke our extraordinary jurisdiction under Article 226 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ondents: Through: Mr. Vipul Agrawal, SSC with Mr. Gibran Naushad, JSC and Ms. Sakashi Shairwal, JSC. ORDER 1. This writ petition has been preferred seeking the following reliefs: (a). Issue a writ of mandamus or any other appropriate writ quashing the reference made by the First Respondent under section 92CA(l) of the Act and quash the order dated 8.12.2018 passed by the First Respondent disposing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to him by the AO. However, if any other international transaction comes to the notice of the TPO during the course of the proceedings before him, then he is empowered to determine the ALP of such other international transactions also by virtue of Section 92CA (2A) and (2B). The transfer price has to be determined by the TPO in terms of Section 92C. The price has to be determined by using anyone of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l of the reference as made would indicate that the AO has failed to bear in mind the Risk Parameters as framed. 4. We find ourselves unable to sustain the challenge which stands raised bearing in mind the undisputed fact that Section 92CA of the Act confers a statutory power on the AO to make a reference to the Transfer Pricing Officer [ TPO ]. An Instruction of the Board and the Risk Parameters, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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