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Motion to quash granted; Tax Court lacks jurisdiction to order downward transfer pricing adjustments.
The respondent brought a motion to quash the appellant's appeals for the 2017 and 2018 taxation years.
The appellant sought a downward transfer pricing adjustment in calculating its foreign accrual property income from a controlled foreign affiliate.
The Tax Court held that it lacks jurisdiction to order downward transfer pricing adjustments, as such adjustments require the Minister's discretionary opinion under subsection 247(10) of the Income Tax Act.
The motion to quash was granted.
