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2023 (10) TMI 561 - DELHI HIGH COURTScope and ambit of Tribunal's power u/s 254 - Tribunal excluding the comparable “OTL” while benchmarking the engineering, technical and inspection segment, in the course of exercising its powers u/s 254 - HELD THAT:- A perusal of the impugned order shows that the Tribunal has only recorded the contentions of both sides and perhaps, proceeded based on incorrect facts. The comparable OTL, according to the counsel for the parties, was indeed included in the Transfer Pricing Study Report. It is also not in dispute that the TPO had accepted OTL as a comparable. The Tribunal, in our view, without discussing the scope and ambit of its power u/s 254, has proceeded to issue operative directions, which, inter alia, excluded OTL as a comparable. Given this position, counsel for the parties say, and something that we tend to agree with, that the matter needs a relook by the Tribunal, with regard to the scope and ambit of its power u/s 254 - Issue answered in favour of the appellant/assessee for statistical purposes.
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