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2013 (3) TMI 489 - DELHI HIGH COURTDetermination of the arms’ length price - benefit of adjustment of +5% denied - Held that:- In view of the observations of the Supreme Court in the case of K.V. Pilliah and Sons (1966 (10) TMI 35 - SUPREME COURT) it is apparent that merely because the Tribunal confirmed the findings of the lower appellate authority it does not mean that the Tribunal has acted illegally or irregularly. In the present case, the Tribunal had examined the findings of the Commissioner of Income Tax (Appeals) in detail and had given an opportunity to the departmental representative to controvert or rebut the findings and conclusions arrived at by the CIT (Appeals). However, despite that opportunity, it is recorded in the order, that the departmental representative had not been able to controvert those findings and point to any material to enable the Tribunal to take a view other than the view taken by the CIT (Appeals). It is in these circumstances that the Tribunal concurred with the view taken by the CIT (Appeals). It is also not the case of the revenue that the departmental representative had made certain points controverting the findings of the CIT (Appeals), which have not been taken into account by the Tribunal. Had that been done, possibly, the revenue would have filed an application under section 254 of the Income Tax Act, 1961 for rectification but that has also not been done. In these circumstances, no substantial question of law which arises for our consideration in these appeals. The appeals are dismissed.
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