LEWEK ALTAIR SHIPPING PRIVATE LIMITED,KAKINADA vs. DCIT, CIRCLE-1, KAKINADA

In the result, appeal filed by the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

Transfer Pricing regulations do not apply to the assessee and hence no reference should have been made to the Ld. TPO U/s. 92C of the Income Tax Act, 1961. Accordingly, the reference made by the Ld. AO is bad in law. 1.3. On the facts and circumstances of the case and in law, the Ld. TPO / Ld. AO and further