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TMI Blog2019 (8) TMI 469X X X X Extracts X X X X X X X X Extracts X X X X ..... jmani and Mr. Rohan Khare, Advocates. O R D E R CM 15154/2019 (delay) 1. For the reasons explained in the application, the delay in re-filing the appeal is condoned and the application is allowed. ITA 335/2019 2.The Revenue is in appeal against the order dated 26th June, 2018 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No.1458/Del/2017 for the Assessment Year ('AY') 2005-06. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... length price ('ALP'). The mere fact that there was an adjustment to the very substantial amount negates the due diligence theory of the Appellant. The same is, therefore, rejected." Therefore, the CIT (A) principally went by the fact that the Appellant tried to pass on an international transaction by undervaluing it by Rs. 3,41,12,260/-. 5. In the further appeal by the Assessee before the ITAT, i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed domestic transaction "shall be the data related to the financial year" in which the international transaction has been entered into. Therefore, he submits that during the AY in question there could not have been any doubt that the data could not have been 'multiple year data', but had to be the 'current data' relevant to the financial year in question. 7. The Court notes that after the words " ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted that even this was a debatable issue and a clarification was finally issued in Finance Bill, 2012, which clarification has been reproduced in paragraph 11 of the impugned order.
11. The Court concurs with above view of the ITAT that this issue is also a debatable one.
12. No substantial question of law arises for consideration. The appeal is accordingly dismissed. No costs. X X X X Extracts X X X X X X X X Extracts X X X X
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