2015 (6) TMI 1123

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..... as resulted the adjustment within ±5 per cent. - Held that:- We find that the decision of the Tribunal is a factual determination of the arm's length price and the same is found within ±5 per cent safe harbour range. This is not show to be perverse and/or arbitrary.Accordingly, no occasion to entertain question (b) can arise as it does not give rise to any substantial question of law. Disallowance under section 14A - Tribunal restoring the issue back to the file of the Assessing Officer for fresh consideration in view of the decision of Godrej and Boyce Manufacturing Co. Ltd. [2010 (8) TMI 77 - BOMBAY HIGH COURT] - Held that:- No fault can be found with the impugned order of the Tribunal inasmuch as it follows the decision of this court .....

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..... djustment only on associated enterprise transactions which has resulted the adjustment within 5 per cent.? (c) Whether, on the facts and in the circumstances of the case and in law, the Tribunal is justified in restoring the issue of disallowance under section 14A back to the file of the Assessing Officer for fresh consideration in view of the decision of this court in the case of Godrej and Boyce Manufacturing Co. Ltd. [2010] 328 ITR 81 (Bom) against which an special leave petition has been filed in the apex court ? 3. As far as question (a) is concerned, the learned counsel for the Revenue is unable to show how it arises from the impugned order of the Tribunal. It appears that the question itself is academic. In the above view .....

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..... he facts held that even the arm's length price as determined by the Transfer Pricing Officer is taken into account at ₹ 61.99 crores is taken, even then it is within the 5 per cent. safe harbour rules not warranting any addition. The impugned order held that amount of ₹ 8.39 lakhs added by the Commissioner of Income-tax (Appeals) is to be deleted as it falls within 5 per cent. variation provided under section 92C of the Act. (iv) We find that the decision of the Tribunal is a factual determination of the arm's length price and the same is found within 5 per cent safe harbour range. This is not show to be perverse and/or arbitrary. Accordingly, no occasion to entertain question (b) can arise as it does not give r .....

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