STAR PAPER MILLS LIMITED,KOLKATA vs. DCIT, CIR. 4(2), KOLKATA

In the result, the appeal of the assessee is partly allowed

Bench: Shri P. M .Jagtap, Vice-(Kz) & Shri A. T. Varkey, Jm]

Section 80-IA(8) was required to be benchmarked under the transfer pricing provisions which mandated determination of ‘arm’s length price’ and not ‘open market value’. He further contended that the assessee’s action of taking the paper manufacturing unit as the ‘tested party’ was flawed for the reason that the concept of ‘tested party’ is not applicable

M/S. TEGA INDUSTRIES LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA

In the result, the appeal filed by the assessee is partly allowed