Shanti Prime Publication Pvt. Ltd.
Section 92C of the Income Tax Act, 1961 — Transfer Pricing — Computation of arms length price — Is the well settled legal position that factual matters which permeate through more than one assessment year, if the revenue has accepted a particular view or proposition in the past, it is not open to the Revnue to take an entirely contrary or different stand in a later year on the same issue, involving identical facts unless and until a cogent case is made out by the AO on the basis of change of facts, admittedly in the facts of the assessee's case, the loan as advanced to the AE in earlier years which continued in the relevant financial year 2010-11 and the subsequent years as well, thus, when the revenue has accepted the interest of 8percent charged on the same loan to be at arms length in the earlier as well succeeding transfer pricing assessments, there was no cogent reason to adopt a contrary view in the relevant year — Deputy Commissioner of Income tax vs. Emami Ltd. [2018] 196 TTJ (Kolkata) 570