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2015 (2) TMI 1164 - BOMBAY HIGH COURTTransfer pricing adjustment - Held that:- Appeal admitted on the following reframed substantial questions of law:“( a) Whether on the facts and circumstances of the case and in law, the Tribunal was justified in admitting the fresh evidence in the form of calculations, submitted in the chart furnished before the Tribunal by the Respondent Assessee for the first time during the hearing, in violation of Rule 29 of the Appellate Tribunal Rules and these calculations were also not validated by the statutory auditors of the RespondentAssessee? (b) Whether on the facts and circumstances of the case and in law, the Tribunal was right in directing the A. O. to simply verify the calculations submitted before it for the first time and not instead either upholding the order of the A. O or else setting aside the order to be made denovo as no statutorily audited AE & nonAE segment was available in the audit report of the Assessee? (c) Whether on the facts and circumstances of the case and in law, the Tribunal was justified in giving directions to the A. O. to work out the ALP only with respect to international transactions of the Assessee with its AEs though the TNMM analysis was done by the TPO at the entity level as no statutorily audited AE and nonAE segment was available in the audit report of the Assessee and this was done by the A. O. in the spirit of the recognition in the OECD guidelines that in these circumstances comparison of net margin at entity level is the only practical way?”
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