Condonation of delay granted in appeal against ITAT order for AY 2009-10, focusing on AMP adjustment, international transactions, and Bright Line Test. -10

The court allowed the condonation of delay in filing and re-filing the appeal due to the respondent's lack of objection. The appeal challenged an ITAT order for the Assessment Year 2009-10, focusing on issues such as AMP adjustment rejection, classification as an international transaction, Bright Line Test use, and absence of a formal agreement. The appellant acknowledged unfavorable precedents, leading to the closure of the appeal as no substantial legal questions arose for consideration.

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Issues involved:
Delay in filing and re-filing the appeal; Questions of law proposed for consideration in the appeal.

Delay in filing and re-filing the appeal:
The appellant sought condonation of a 14-day delay in filing the appeal and a 34-day delay in re-filing the appeal. The respondent's counsel had no objection to condoning the delay. Considering the delay and the respondent's stance, the court inclined to condone the delay, and the applications were allowed accordingly.

Questions of law proposed for consideration in the appeal:
The appeal pertained to the Assessment Year 2009-10, challenging the order of the Income Tax Appellate Tribunal (ITAT) dated 19.10.2022. The appellant raised several questions of law for consideration by the court, including issues related to the rejection of the AMP adjustment, classification of AMP as an international transaction, the use of Bright Line Test, and the inference of AMP as an international transaction in the absence of a formal agreement. The appellant conceded that the proposed questions of law were unfavorable due to precedents set by previous decisions, indicating that no substantial question of law arose for consideration in the appeal. Consequently, the appeal was closed based on the precedents and lack of substantial legal issues for review.

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