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2023 (8) TMI 210 - ITAT DELHITP Adjustment - disallowance of 5% marked up in relation to purchase of certain fixed assets (i.e. Smoke Meter and Heating Channel) and a non consideration of evidence in respect of the same - HELD THAT:- It is the specific case of the assessee is that the CIT(A) has relied on the remand report of the TPO without appreciating that TPO in relation to ‘smoke meter’ and ‘heating channel’ looked only at A.E and third party invoice A.O for Financial Year 2010-11 and over looked the A.E and third party invoice for impugned Financial Year 2011-12 and did not refer to Invoice No. 3011101638 dated 03/11/2021 wherein the aforesaid asset were sold by AVL List GmPG to third party customer. Therefore, in our considered opinion, if the matter is remanded to the file of A.O to consider the A.E and third party invoice for the Financial Year 2011-12, Invoice and other details submitted by the assessee and decide the said issue afresh, the substantial justice would be rendered. Accordingly, we allow the Grounds of Appeal for statistical purpose with a direction to the A.O. for de-novo consideration for the issue by considering all the invoices and details submitted by the assessee in the right perspective and pass order in accordance with law. Appeal of the assessee is allowed for statistical purpose.
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