HIGH COURT OF BOMBAY
Mitsui O.S.K. Lines Maritime (India) (P.) Ltd.
V/s.
Deputy Commissioner of Income-tax-8(2), Mumbai
IT APPEAL NO. 426 OF 2012
JULY 17, 2012
ORDER
P.C. –
The appeal is admitted and with the consent of the parties heard on the following substantial question of law :-
“Whether, on the facts and in the circumstances of the case and in law, the Tribunal was justified in setting aside the order of the CIT (A) and remanding the matter to the AO for fresh adjudication ?”
Questions 2, 3 and 4 raised in paragraph III of the appeal would be covered by the above questions.
2. This is an appeal filed under section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (ITAT) remanding the matter to the Assessing Officer (AO) for a fresh adjudication.
The respondent had filed the appeal before the Tribunal against the order of the CIT (A) relating to A.Y. 2003-2004.
3. The appellant – assessee is in the business of ship management. The appellant renders recruiting and manning services for its foreign principals Mitsui O.S. Manning Services S.A., Panama and Mitsui O.S.K. Lines Ltd. Japan. The AO referred the transactions to the Transfer Pricing Officer (TPO), who reduced the Arm’s Length Price (ALP) by about Rs. 1.41 crores.
