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INCOME TAX APPELLATE TRIBUNAL (CHENNAI BENCH)
Shri S.R. Raghunatha, AM, Shri George George K, VP
Shri. T. Banusekar – Appellant
Versus
Mr. ARV Sreenivasan – Respondent
| Table of Content |
|---|
| 1. overview of assessment and upward adjustments (Para 3 , 4 , 5 , 6 , 7 , 8 , 9) |
| 2. arguments on tonnage tax scheme applicability (Para 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19 , 20 , 21 , 22 , 23) |
| 3. evidence and disputes regarding adjustments (Para 28 , 29 , 30 , 31 , 32 , 33) |
| 4. court's conclusions on transfer pricing and tonnage tax scheme (Para 34 , 35 , 36 , 37 , 38 , 39 , 40 , 41 , 42 , 43 , 44 , 45 , 46 , 47 , 48 , 49 , 50 , 51 , 52) |
| 5. final decision on appeal outcome (Para 53 , 54) |
आदेश /O R D E R
PER S. R. RAGHUNATHA, AM :
This appeal of the assessee arises from the order of assessment passed u/s.143(3) r.w.s.144C(13) r.w.s.144B of the Income Tax Act, 1961 (in short ‘the Act’) dated 24.10.2024 by the Assessment Unit, Income Tax Department for the A.Y.2021-22 passed in compliance to directions of Dispute Resolution Panel-2, Bengaluru vide order dated 11.05.2017.
2. The grounds raised by the assessee are as follows:
Legal / General Grounds
For that the reference made to the Transfer Pricing Officer was not in accordance with law, conferring no jurisdiction on the Transfer Pricing Officer and consequently rendering the entire proceedings void ab initio.
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