MAHALAXMI CONTINENTAL LIMITED,GUWAHATI vs. INCOME TAX OFFICER (DCIT/ACIT CIR-1), GUWAHATI

In the result, both the appeals of the assessee are allowed

Bench: Shri Duvvuru Rl Reddy & Shri Rajesh Kumar

transfer pricing officer under clause (i) of u/s 92BA of the Act as the said section omitted with retrospective effect. In other words clause (i) of Section 92BA of the Act has been omitted by the Finance Act, 2017 w.e.f. 01/04/2017 without any saving clause and therefore, operates retrospectively. The ld. A.R. submitted that the issue involved in the appeal

MAHALAXMI CONTINENTAL LIMITED,GUWAHATI vs. INCOME TAX OFFICER (DCIT/ACIT CIR-1), GUWAHATI

In the result, both the appeals of the assessee are allowed