9911796707
TMI Blog2014 (5) TMI 1239X X X X Extracts X X X X X X X X Extracts X X X X ..... r argues that the AO acquires the jurisdiction to refer the computation of arm s length price to the TPO only upon his formation of opinion, based upon existence of material, that a transaction amounts to an international transaction, and not otherwise. HELD THAT:- The transaction in the present case involves investment into M/s Bharti AXA Life Insurance Co. Ltd. The petitioner, First American Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsaction to the Transfer Pricing Officer. Having regard to the submissions, this Court is of the opinion that it would not be expedient at this stage to intervene under Article 226 of the Constitution of India. - HON'BLE MR. JUSTICE S. RAVINDRA BHAT AND HON'BLE MR. JUSTICE VIBHU BAKHRU For the Appellant : None For the Respondent : Mr Balbir Singh, Sr. Standing Counsel with Mr Upender Sin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Officer only upon his formation of opinion, based upon existence of material, that a transaction amounts to an international transaction, and not otherwise. The learned counsel also relied upon a CBDT Instruction No. 3 dated 20.05.2003. The transaction in the present case involves investment into M/s Bharti AXA Life Insurance Co. Ltd. The petitioner, First American Securities holds certain sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsaction to the Transfer Pricing Officer. It was submitted that in the present case, it is not merely share holding which is involved but also the extent of control exercisable in terms of the available materials, which could amount to the petitioner s participation as an associated enterprise under Section 92A of the Act. Having regard to the submissions, this Court is of the opinion that it woul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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