9911796707
TMI Blog2025 (1) TMI 973X X X X Extracts X X X X X X X X Extracts X X X X ..... nsaction - AO passed a draft assessment order which included making an upward revision on account of transfer pricing adjustment - petitioner filed an application for rectification of the order passed by the DRP on the ground that it had entered into the APA and its modified return was not considered. HELD THAT:- Revenue concedes, on instructions, that the petitioner s modified return was required ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ICE TUSHAR RAO GEDELA For the Petitioner: Mr Manuj Sabharwal with Mr Drona Negi and Mr Devvrat Tiwari, Advocates For the Respondents: Mr Sunil Agarwal, SSC with Mr Shivansh B Pandiya, Mr Viplav Acharya, Ms Priya Sarkar and Mr Utkarsh Tiwari, Advocates ORDER 1. The petitioner has filed the present petition, inter alia, praying as under: a. Issue a writ in the nature of certiorari or mandamus or any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... espect of the international transaction. 3. The TPO passed an order dated 30.10.2023 under Section 92CA(3) of the Act directing an upward adjustment of 8,12,99,944/- on account of the determination of ALP in respect of the international transaction. 4. In the meanwhile, the Central Processing Centre (CPC) issued an intimation under Section 143(1) of the Act, which according to the petitioner was e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ears that the petitioner s request was not considered and the DRP passed an order dated 20.09.2024 under Section 144C(5) of the Act with the direction that the petitioner s rectification application which was pending, be decided. 8. Thereafter, the petitioner filed an application for rectification of the order dated 20.09.2024 passed by the DRP on the ground that it had entered into the APA and it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fresh. 12. In view of the above, the order dated 20.09.2024 passed by the DRP as well as the final assessment order dated 24.10.2024 passed by the AO is set aside. The matter is remanded to the TPO for considering afresh in light of the APA entered into by the petitioner. Additionally, we direct that the petitioner s application for rectification dated 08.12.2023 be also considered. 13. We also co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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