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2018 (8) TMI 517 - HC - Income TaxAppeal filed by the Revenue against the order of the learned Tribunal - maintainability of appeal - Transfer pricing adjustments - reference to TPO - acceptable comparable - Held that:- M.Janardhana Rao Vs. Joint Commissioner of Income Tax [2005 (1) TMI 14 - SUPREME COURT the Supreme Court held that the principles contemplated under Section 100 of the Code of Civil Procedure would apply to Section 260-A of the IT Act too. Right of appeal is not automatic. Right of appeal is conferred by statute. When statute confers a limited right of appeal only in a case which involves substantial questions of law, it is not open to this Court to sit in appeal over the factual findings arrived at by the Appellate Tribunal. Tribunal considering all materials and relevant facts, including the functional profile of M/s.Stewarts & Lloyds India Limited for successive years, arrived at the conclusion that M/s.Stewarts & Lloyds India Limited was a good comparable. There is no question of law, not to speak any substantial question of law, involved in this appeal.
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