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2015 (6) TMI 1123 - HC - Income TaxAdjustment restricted only on international transactions where the assessee has selected TNMM and applied the same on entity level by ITAT - Held that:- Revenue is unable to show how it arises from the impugned order of the Tribunal. It appears that the question itself is academic. In the above view, there is no occasion to entertain question (a) as substantial question of law. Addition as the adjustment is with ±5 per cent - Tribunal deleting the addition as the adjustment is with ±5 per cent. as the Income-tax Appellate Tribunal has restricted the adjustment only on associated enterprise transactions which has resulted the adjustment within ±5 per cent. - Held that:- We find that the decision of the Tribunal is a factual determination of the arm's length price and the same is found within ±5 per cent safe harbour range. This is not show to be perverse and/or arbitrary.Accordingly, no occasion to entertain question (b) can arise as it does not give rise to any substantial question of law. Disallowance under section 14A - Tribunal restoring the issue back to the file of the Assessing Officer for fresh consideration in view of the decision of Godrej and Boyce Manufacturing Co. Ltd. [2010 (8) TMI 77 - BOMBAY HIGH COURT] - Held that:- No fault can be found with the impugned order of the Tribunal inasmuch as it follows the decision of this court in Godrej and Boyce Mfg. Co. Ltd. v. Deputy CIT [supra]. Accordingly, there is no occasion to entertain question (c) as it does not give rise to any substantial question of law.
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