Assessee’s submission in arriving at the ALP is not final, It is for TPO to examine and find out companies listed as comparables

This Appeal under Section 260­A of the Income Tax Act, 1961 (the  Act),  challenges  the order dated 15 th  January, 2014 passed by the Income  Tax  Appellate  Tribunal  (the Tribunal). The impugned order dated 15th  January,  2014  relates  to  the  Assessment  Year 2008­-09.

2. The Revenue urges the following questions of law for our consideration:

“(a) Whether on the facts and in the circumstance of the case and   in   law,   the   Tribunal    was   justified   in   excluding   two  comparables  viz.  Indowind  Energy  Ltd. and B. F. Utilities Ltd. for  determination  of Arm’s  Length Price (ALP)  of  international transaction with AEs, when these two comparables were  originally included by the assessee company   among   the comparables?

(b) Whether on the facts and in the circumstance of the case and   in   law,   the   Tribunal  was justified   in   directing   for determination  of  Arm’s  Length  Price  (ALP)   with regard to Sales of Rs.641,49,36,255/­ made  to AEs   and not  on entire  sales   of  Rs.909,91,45,631/­/?”

3./ Re Question (a):­

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