Lack of Jurisdictional Competency of TPO in Making Upward Adjustment in TP: ITAT Deletes Income Tax Addition [Read Order]

By Ipsita Das - On July 9, 2023 3:00 pm - 2 mins read

Lack of Jurisdictional Competency - Jurisdictional Competency - TPO - Upward Adjustment - TP - ITAT - Income Tax Addition - Income Tax - ITAT Deletes Income Tax Addition - Taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the addition made by the Assessing Officer (AO) Transfer pricing Officer (TPO) on account Transfer Pricing (TP) adjustment is without having valid jurisdiction therefore directed such income tax addition to be deleted. The assessee company Yizumi Precision Machinery (India) Private Limited is subsidiary of…

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