TMI Blog2012 (8) TMI 621X X X X Extracts X X X X X X X X Extracts X X X X ..... bles the appellant is willing to proceed before the Tribunal on the basis of the existing material including the comparables already furnished no purpose would be served by remanding the matter to the AO or for that matter, even before the CIT(A) for a fresh decision on the existing material - as the Tribunal has not held that it is not possible to arrive at the ALP on the basis of the existing material it must therefore now decide the matter - in favour of assessee. - IT APPEAL NO. 426 OF 2012 - - - Dated:- 17-7-2012 - S.J. VAZIFDAR AND M.S. SANKLECHA, JJ. Percy Pardiwalla and Atul K. Jasani for the Appellant. Tejveer Singh for the Respondent. ORDER P.C. - The appeal is admitted and with the consent of the parties hear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. Considering the order we intend passing, it is not necessary to set out in detail the approach of the TPO and the AO on the one hand and the approach of the CIT (A) on the other. In effect, the TPO and the AO ignored certain comparables including under the agreement on the ground that they pertain to loss making/continuously loss making organizations. The appellant however contended that it was necessary to consider a variety of entities, both loss making and otherwise. The appellant disputed the approach on the one hand excluding the loss making entities but considering the entities that had abnormally high profits. The Tribunal after referring to the orders passed by the authorities and the appellant's submissions, concluded as unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ellant is willing to proceed before the Tribunal on the basis of the existing material including the comparables already furnished. It states that it does not wish to furnish any further material. In that event no purpose would be served by remanding the matter to the AO or for that matter, even before the CIT(A) for a fresh decision on the existing material. The AO and CIT(A) have already decided the same. The Tribunal has not held that it is not possible to arrive at the ALP on the basis of the existing material. The Tribunal must therefore now decide the matter. We wish to clarify that the power of the Tribunal in all respects is kept open and that the statement on behalf of the assessee does not affect the same. 9. In view of the stat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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