2015 (9) TMI 1744

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..... ve fair opportunity of hearing to the assessee and also consider judicial precedents on the issue including the orders of the Tribunal in assessee s own case while determining the ALP. Appeal of the assessee is treated as allowed for statistical purposes. - I.T.(T.P.)A.No.344/Bang/2015 - - - Dated:- 18-9-2015 - SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI JASON P. BOAZ, ACCOUNTANT MEMBER For the Assessee : Mr. K.R. Pradeep For the Revenue : Mr. G.R. Reddy ORDER PER SMT. P. MADHAVI DEVI, J.M. This appeal filed by the assessee is directed against the final assessment order passed by the A.O. under section 143(3) read with section 144C(13) of the I.T. Act, 1961. 2. Brief facts of the case are that the as .....

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..... assessee is in appeal before us. 3. At the time of hearing, the Ld. Counsel for the assessee submitted that the foremost objection of the assessee is that both the TPO as well as the DRP have not considered the elaborate contentions raised by the assessee before them and therefore, there is violation of principles of natural justice. He has drawn our attention to the detailed submissions made by the assessee before the TPO as well as DRP and also as to how neither the TPO nor DRP have considered the assessee s contentions and have come to erroneous conclusions. He submitted that similar was the situation in the assessee s own case for the earlier assessment year 2006-2007 and this Tribunal after considering the issue at length, had remi .....

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..... 10 has discussed the issue at length and at para 10 of its order has held as under : 10. Having heard both the parties and having considered the rival contentions, we find that u/s Chapter X of the Act, the TPO while computing the ALP has to issue notice to the assessee and if the assessee raises any objections relating to the method adopted by the TPO in selection of the comparables or in relation to comparables selected, he has to consider the objections raised by the assessee and deal with them by a speaking order. However in the case before us, the TPO has failed to consider the assessee's objections and deal with them judiciously. The DRP also, in our opinion, has dealt with the issue summarily without considering assessee' .....

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