The Tax Publishers2020 TaxPub(DT) 4784 (Bang-Trib)

INCOME TAX ACT, 1961

Section 254 read with Section 92C

Where there was an omission in order of Tribunal in final conclusion on exclusion of companies in question and said omission constituted a mistake apparent on face of record, because it was clear from observations of Tribunal that there was no dispute that said companies were to be excluded, said mistake was rectified by modifying order, by adding a direction to TPO to exclude all comparable companies.

Appeal (Tribunal) - Rectification of mistakes - Selection of companies for transfer pricing study - Companies to be excluded from list of comparables were incorrectly directed to be included by Tribunal while finally concluding the matter

Assessee sought rectification in order of Tribunal pleading that there was mistake in order while considering issue of transfer pricing adjustments in case of assessee. It was contended that while selecting comparables, there was omission in order of Tribunal in the final conclusion on exclusion of certain companies. Held: There was an omission in order of Tribunal in final conclusion on exclusion of companies in question and said omission constituted a mistake apparent on face of record. It was clear from observations of Tribunal that there was no dispute that said companies were to be excluded in the light of decisions rendered in the cases referred to by assessee. Order of Tribunal suffered from a mistake and said mistake was rectified by modifying order by adding a direction to TPO to exclude all comparable companies from list of comparable companies.

REFERRED :

FAVOUR : In assessee's favour

A.Y. :



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