TMI Blog2011 (7) TMI 508X X X X Extracts X X X X X X X X Extracts X X X X ..... the report of NASCOM which has been filed by the assessee before the CIT(A) and not considered the same as being additional evidence - If the Assessing Officer is unable to bring on record the comparable case, the Assessing Officer is at liberty to consider the rate adopted by the assessee immediate next year and thereafter he is required to discount the same after considering the inflationary rate - Once he arrived at the discounted rate, there is no question of further giving any deduction towards any adjustments at 5% - Accordingly, direct the Assessing Officer to follow the CUP method as adopted by the assessee itself in this assessment year - However, he has to re-determine the TPO as per the above directions. - 1129(HYD.) OF 2005 AND ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... our as reasonable and worked out a difference in pricing of services at Rs. 4,64,98,586/- by taking the arm's length price at Rs. 10,40,67,504/- against the assessee's price of Rs. 5,75,68,918. The Assessing Officer has also adopted the same value in the assessment order as income of the assessee after giving reasonable opportunity of hearing. 5. On appeal before the CIT(A), the assessee has furnished certain additional evidence before the CIT(A) which was not considered by the CIT(A) on the reasons that such an evidence can be admitted only in those cases, where the matters are decided without affording sufficient opportunity or where the Court considers the evidence as necessary to be admitted for a substantial cause. He also relied on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the reason that the legal representative of the deceased assessee has come on record at the stage of second appeal before the Tribunal, it will not entitle him to say that he should be afforded sufficient opportunity to dispute the assessments made by the Wealth Tax Officer. He cannot put himself in a better position than the assessee himself. The words 'for any other substantial cause' have been clearly by the Privy Council in Parsotim's case. Satyanarayana Raju J. In Bobbili Gowresu v. Kottu Subhadrama, while construing rule 27 of order 41, Civil Procedure Code, observed. The court must be satisfied that it is necessary for the disposal of the case that the document sought to be admitted must be received in evidence or in the alterna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed the materials available on record. At this stage, before us also the assessee's counsel pleaded to admit the additional evidence which was furnished before the CIT(A) and submitted that in subsequent years Transactional Net Margin Method was adopted by TPO, similarly for this assessment year also TNM method is to be followed. He also submitted that comparison of assessee's case with price paid to the M/s WIPRO by foreign company is not at all justified and prayed that WIPRO is not comparable with the assessee's case. According to Departmental Representative, facts and circumstances of the subsequent years are not brought on record and it cannot be considered as comparable. Further, he submitted that CUP method has itself adopted by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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