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2016 (7) TMI 671 - AT - Income TaxTransfer pricing adjustment - segmental P & L Account in relation to transaction with associated enterprises (AE) and Non-AE’s - Held that:- In the present case it is noticed that the assessee requested the TPO to consider the segmental P & L Account in relation to transaction with associated enterprises (AE) and Non-AE’s for the revenue of associated cost for arriving at segmental P & L vide letter dated 08.01.2015. However, the TPO did not accept the request of the assessee since the segmental data relating to internal comparables were not audited. Now the assessee got the segmental profit and loss account audited by M/s. S.S. Kothari Mehta & Co. in pursuance of the provisions of Income-tax Act, 1961 and the provisions of Companies Act, 1956 for the year ended on 31st March, 2011 and furnished the copies of the same as an additional evidence. Thus to resolve the present controversy, the additional evidences furnished by the assessee are relevant and go to the root of the matter, so these deserves to be admitted. Accordingly, the additional evidences is furnished by the assessee are admitted under Rule 29 the Income-tax (Appellate Tribunal) Rules, 1963. However, these evidences furnished by the assessee first time before this bench of the Tribunal were not available to the authorities below. We, therefore, deem it appropriate to set aside the issue under consideration to the file of the TPO to be adjudicated afresh inaccordance with law, after providing due and reasonable opportunity of being heard to the assessee. We also direct the TPO to consider the additional evidences, furnished by the assessee while adjudicating the issues under consideration.
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