giving benefit of the option
available under the erstwhile proviso to section 92C(2) of the Act, so it
IT(TP)A No.1212/Bang ... relevant to discuss the provisions contained in the erstwhile
proviso to section 92C(2) of the Act, which was inserted by Finance
erred in levying
interest under section 234D of the Act.
B.5 Initiation of penalty provisions u/s
proceedings ... Assessing Officer by relying on the provisions of section 10A ,
then the first proviso to section 92C (4) of the Act will be rendered
redundant
issue is incorrect. The applicability of Proviso to sub
section (4) of section 92C was not considered by DRP while deciding
the objection raised ... incorrect. The DRP has
not considered the Proviso to sub section (4) of section 92C . The AO
18
ITA No.4911/Mum/2018
Shell India
said so, we may now notice the provisions of sub-
section (3) of section 92C which we have already extracted
above. A reading ... transaction in accordance with the
provisions of sub-section (1) and sub-section (2) of section 92C
on the basis of such material or information
purpose of computing the Arm's
Length Price (ALP) under Section 92C of the Income-tax Act,
1961. The price was computed taking ... fall within the charging
section."
17. The learned senior counsel, therefore, contended that the
computation provisions provided under Section 92C cannot be
applied
above grounds) not allowing the
benefit of the proviso to section 92C(2) of the Act (which was effective during AY
2006-07) and consequently ... that the benefit of +/-5% as envisaged in the proviso to section
92C(2) of the Act has not been granted to the assessee
Section 92C in Constitution of India, 1950
92C. [ Taxes on services.] [Inserted by the Constitution (Eighty-eighth Amendment) Act, 2003, Section
paid in such transaction was in accordance with
provisions contained in Section 92C .
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undefined
disallowed in computing the total income
under sub-section (4) of section 92C , then,
the amount so added or disallowed shall
apparent from a plain reading of sub-section (4) of
Section 92C of the Act that the same is inapplicable. The said sub-
section requires ... said sub-section."
31. The said circular also amply clarifies that the first proviso to
sub-section (4) of Section 92C
apparent from a plain reading of sub-section (4) of
Section 92C of the Act that the same is inapplicable. The said sub-
section requires ... said sub-section."
31. The said circular also amply clarifies that the first proviso to
sub-section (4) of Section 92C
