Purchase from related party is not considered as specified domestic transaction u/s 92BA

Giraffe Developers Pvt Ltd Vs Pr. CIT (ITAT Mumbai) Held that a domestic transaction of purchase from the related party is not required to be considered as a specified domestic transaction under section 92BA. Facts- The PCIT observed that the AO has not made any inquiry concerning certain primary facts/claims and considered the assessment order as erroneous and prejudicial to the interest of revenue and initiated proceedings u/s. 263. It was mainly alleged that the assessee has paid Rs. 15 Crore as interest on debenture and the same should have been reported as Specified Domestic Transaction. ...