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2014 (3) TMI 848 - CALCUTTA HIGH COURTValidity of adjustment made by the TPO – Need for remitting back in case of no other comparable company - Held that:- Assessee contended that some justification that the matter was referred to the TPO u/s 92CA of the Act and based on the findings of TPO, a draft assessment was made which the assessee challenged before the DRP u/s 144C of the Act - the TPO had taken MALCO as a comparable unit. DRP has also accepted that MALCO was a comparable unit - because there is no other comparable company, there was no necessity of remanding the matter - the contention made by the assessee must prevail - Whether there was any other comparable unit or any other method, might be a question to be considered by the TPO once the matter is remanded to him. It was not a proper exercise of discretion on the part of the learned Tribunal to have given a quietus to the matter after deleting the additions.
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