Case Law Details
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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