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TMI Blog2014 (10) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... er has been delivered in consolidated Appeals of the Assessee and Revenue or whether in isolated appeal or successive appeals of either of them - It is only thereafter the higher Court will be in a position to appreciate the point involved in the matter – thus, the order of the Tribunal in relation to the claim of reduction of 5% of arm's length price of international transaction in view of proviso to section 92C(2) is set aside and the matter is remitted back to the Tribunal for fresh consideration – Decided in favour of revenue. - IT APPEAL NO. 110 OF 2012 - - - Dated:- 26-6-2014 - S.C. DHARMADHIKARI AND B.P. COLABAWALLA, JJ. N.C. Mohanty and Ms. Padma Divakar for the Appellant. Ashok J. Patil for the Respondent. ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Income Tax Act 1961. The Assessee complained that the Tribunal committed an apparent mistake in observing that the issue has been decided against the Assessee in the preceding year. 6. In fact, it was decided against the Revenue and in favour of the Assessee, reliance is placed by the Assessee's counsel before us on the order of the Income Tax Tribunal, Mumbai Bench 'L', Mumbai bearing I.T.A. No.3342/Mum/2006 pertaining to this Assessee and for the Assessment Year 2002-03. There, the Assessee's counsel relied on paragraph 8 and submits that this is the order and the conclusion therein which was followed by the Tribunal in correcting the mistake in its original order dated 5th January 2011 for the succeeding Assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clear terms as to whether such an order has been delivered in consolidated Appeals of the Assessee and Revenue or whether in isolated appeal or successive appeals of either of them. It is only thereafter the higher Court will be in a position to appreciate the point involved in the matter. 9. We have wasted our precious time to find out as to which of the orders, the Tribunal had in mind, when it corrected the original order. If the original order is dealing with the claim and which was covered by the Tribunal's earlier orders, then that should have been indicated and spelt out correctly in the original order itself. However, if the original order is sought to be corrected, at least the order correcting the same on miscellaneous appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion :- (A) Whether, on the facts and in the circumstances of the case and in law, the Hon'ble Tribunal was justified in allowing reduction of 5 % of Arm's Length Price of the international transaction under the Proviso to section 92C(2) of Income Tax Act 1961 ? 14. The Tribunal shall allow the parties to produce all the material. The Tribunal shall decide this question on merits and in accordance with law, uninfluenced by any observation in the orders dated 5th January 2011 or 27th May 2011. All contentions are therefore kept open. We clarify that we have not expressed any opinion thereon. Since the matter is of 2006, the Tribunal is expected to give it some priority and dispose off the same expeditiously. - - TaxTMI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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