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HIGH COURT OF GUJARAT
BHARGAV D. KARIA, D.N. RAY
Principal Commissioner Of Income Tax 1 Ahmedabad – Appellant
Versus
Bosch Rexroth (India) Ltd. – Respondent
ORDER :
(BHARGAV D. KARIA, J.)
1. Heard learned Senior Standing Counsel Mr.Varun K.Patel for the Petitioner.
2. By this petition filed under Article 226 of the Constitution of India, the petitioner has challenged the Order dated 24.01.2024 passed by the Income Tax Appellate Tribunal, “D” Bench, Ahmedabad (for short “the Tribunal”), in Misc. Application No.85/Ahd/2023 in IT(TP)A No.930/Ahd/2015 for the Assessment Year 2010-11.
3. The brief facts of the case can be summarized as under:-
3.1 The respondent filed the return of income on 12.10.2010 declaring total income of Rs.32,83,18,600/- for the Assessment Year 2009-10.
3.2 The case of the petitioner was selected for scrutiny and the notice under Section 143(2) of the Act was issued on 24.08.2011.
3.3 The Assessing Officer made reference under Section 92CA(1) of the Act to the Transfer Pricing Officer for computation of Arm’s Length Price (ALP) in relation to the international transactions of the Respondent -Assessee.
3.4 The Transfer Pricing Officer passed an Order dated 20.01.2014 under Section 92CA(3) of the Act, determining upward adjustment of Rs.5,23,55,986/-. The Assessing Officer had initially passed the draft Assessment Order dated
The Tribunal's exercise of powers under Section 254(2) to rectify its order was justified, as no substantial question of law arose from its decision.
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