Case selected for scrutiny on TP risk parameter has to be referred to TPO

DBS Bank India Limited Vs CIT (IT) (ITAT Mumbai)

ITAT Mumbai held that as per paragraph 3.2 of the Instruction no. 3/2016 dated 10th March 2016, cases selected for scrutiny on a TP risk parameter has to be referred to TPO after obtaining approval from PCIT/ CIT. Non-complying with the instruction renders the order erroneous and prejudicial to the interest of revenue.

Facts- The assessment of the year under consideration was completed by AO u/s 143(3) r.w.s 144C(3) of the Act on 06-08-2021. The Ld CIT(

Please become a Premium member. If you are already a Premium member, login here to access the full content.