TMI Blog2019 (3) TMI 738X X X X Extracts X X X X X X X X Extracts X X X X ..... ssues afresh with the Transfer Pricing Officer, since the Transfer Pricing Officer, being the lower Authority, would be bound by the observations and findings of the Tribunal. This, in our opinion, frustrates the very purpose of remand for enquiry by the Transfer Pricing Officer into these three issues by the Transfer Pricing Officer, as directed by the Tribunal itself. Therefore, we allow the present appeal of the Revenue and while upholding the remand order passed by the Tribunal, we observe that the Transfer Pricing Officer will pass such fresh order in pursuance of the remand directions, uninfluenced by the observations of the Tribunal, on the merits of the case. - Tax Case Appeal No.138 of 2007 - - - Dated:- 7-2-2019 - Dr. Justic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nly in that particular manner. 4. The learned counsel also submitted that though the Tribunal has allowed such additional grounds on appeal, which were raised during the course of argument vide paragraph 4 of the order, as the earlier grounds were treated as not pressed, the matter was remanded back to the Transfer Pricing Officer, on such additional grounds that were allowed to be raised, to pass fresh orders. 5. Having heard the learned counsel for the parties, we are of the opinion that the Tribunal, while remitting the matter back to the Transfer Pricing Officer, should not have curtailed the discretion to be exercised by the Transfer Pricing Officer, in accordance with law. The Tribunal was well within the powers to allow the new ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be considered while determining the ALP. Accordingly, we direct the TOP to consider the same while determining the ALP. 8. The next ground is with regard to variation in exchange rate adjustment while determining the ALP. According to the ld. AR, the assessee entered into contract in adverse prices fixed on the prevailing exchange rate and due to fluctuation in exchange rate, there is loss and that exchange fluctuation to be considered while determining the ALP. 9. We find force in the argument of the ld. AR. It is normal that exchange rate is subject to fluctuation due to economic conditions. While determining the ALP, one has to consider these factors, more so, our view is fortified by the decision of the Tribunal in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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