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2015 (7) TMI 246 - AT - Income TaxTransfer pricing adjustment - adjustment in arm’s length price on account of export of motor cycle - Held that:- The assessee is a loss making unit suffering continuously loss for more than 10 years. On having making such a submission the Bench queried whether any purpose would be served if the above appeals are adjudicated subsequently when the admitted position is that the TPO has not made similar adjustment in any of the subsequent assessment years. The ld counsel for the assessee fairly admitted that the loss claimed and allowed to the assessee could not be carried forward as the period of 8 years elapsed and under those circumstances the adjudication of the issues listed in these appeals would be academic in nature. Nevertheless, he submitted that on principle, the assessee company cannot be concede such additions and on merits the assessee company has a very strong case as both the TPO as well as AO and the ld CIT(A) had misdirected themselves, requests for adjudication of the appeals. The ld Departmental representative on the other than, though not leave his ground, but agreed with the bench that adjudicating these contention would be academic exercise. After hearing the rival contention we deem it fit to dismiss all these cases as no useful purpose would be served by adjudicating the same. Similar adjustment has been made in any other assessment years even if it is made, when the matter is not adjudicated by us, it cannot be abinding precedent. We are also informed that no penalty proceedings have been initiated in these cases. Even otherwise penalty proceedings are independent and the issues can be contested on merit. Under this circumstance we dismiss all the appeals filed both by the assessee and the revenue as academic in nature.On a query from the Bench, it transpired that in subsequent years, the TPO has accepted the Transfer Pricing study made by the assessee and the assessee is running in heaving loss up to year 2008. So the decision in either way is not going to affect the assessee. We find that the adjudication will be mere academic and thus dismissal of the appeals will not be treated as a precedent by either side in case any issues regarding the assessee is concerned. - Decided against assessee and revenue.
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