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TMI Blog2020 (12) TMI 844X X X X Extracts X X X X X X X X Extracts X X X X ..... sment year 2009-10. 2. The first mistake pointed out by the assessee relates to the transfer pricing adjustment made in respect of interest on loan advanced by the assessee. The Ld. DRP had directed the A.O. to compute interest at LIBOR rate + 500 basis point. The Tribunal directed the A.O. to determine 12 months LIBOR + 300 basis point. 3. It is the plea of the assessee that the assessee had sought for LIBOR rate + 150 basis point and hence the order passed by the ITAT in directing the A.O. to adopt 12 months LIBOR + 300 basis point is mistake apparent from record. 4. We heard the parties on this issue and perused the record. We notice that the Tribunal has taken a view on this issue i.e. as against the DRP's direction to adopt interes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dication, since the Tribunal has already modified the directions given by Ld DRP. Hence the ground no.3 urged by the assessee shall become infructuous, while giving effect to the order passed by the Tribunal. Accordingly, the decision rendered by the Tribunal on ground no.2 urged by the assessee would take care of ground no.3 also. Accordingly, we reject this plea of the assessee. 8. The next mistake pointed out by the assessee relates to disallowance made u/s 35(2AB) of the Act. The Tribunal has adjudicated the same in paragraphs 10 to 12 of the order. 9. At the time of hearing of the appeals, it was submitted that the assessee had challenged the disallowance made by the A.O. u/s 35(2AB) of the Act by filing the writ petition before Ho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n a conscious view on this matter. Hence we find that the plea made by the assessee by expressing that this issue cannot be restored to the file of AO for fresh examination sounds strange. In any case, we are of the view that such a plea cannot be made in the miscellaneous petition filed u/s 254(2) of the Act. Accordingly, we do not find any mistake apparent from record in respect of this issue as alleged by the assessee. Accordingly, we reject this plea of the assessee. 12. The next mistake pointed out by the assessee relates to disallowance of deduction claimed by the assessee u/s 35(1)(i) of the Act. It is the submission of the assessee that this issue has already been decided in favour of the assessee by the coordinate bench in its o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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