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Case Law Details

Case Name : Assistant Commissioner of Income-tax, Circle 18(1) Vs. UE Trade Corporation (India) (ITAT Delhi)
Related Assessment Year : 2003- 04
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Brief:-

1. Under the Proviso to s. 92C(2) (pre-amendment w.e.f. 1.10.09) the option to the assessee to choose a price which may vary from the arithmetical mean by an amount not exceeding five per cent is available only where more than one price is determined and not where there is only one comparable instance (Sony India vs. DCIT 114 ITD 448 (Del) & DCIT vs. BASF India not followed. Perot System TSI (India) Ltd 130 TTJ 685 followed);
2.  The said Proviso as amended w.e.f 1.10.09 is a substantive pro

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