Appeals Dismissed After New Orders Accept Comparables Proposed by Respondent; Rights and Contentions Remain Open

The Bombay HC dismissed the appeals as "infructuous" after the TPO and AO issued new orders accepting the comparables proposed by the respondent, following the ITAT's order. The assessment order dated December 13, 2019, was admitted into the record and marked as 'X'. The court noted that all rights and contentions of the parties remain open for the Revenue to pursue in any other matter.

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The Bombay High Court, presided over by Justices K.R. Shriram and Firdosh P. Pooniwalla, addressed the appeals in question. The counsel for the appellant, Mr. Suresh Kumar, and the counsel for the respondent, Mr. Nishant Thakkar, along with Ms. Jasmin Amalsadvala from Lumiere Law Partners, were present.The court noted that subsequent to the ITAT's order dated January 16, 2017, the Transfer Pricing Officer (TPO) and the Assessing Officer (AO) issued fresh orders accepting the comparables proposed by the respondent. Consequently, the court found that the appeals had become "infructuous" and proceeded to dismiss them.For the purpose of record-keeping, the assessment order dated December 13, 2019, was admitted into the record and marked as 'X' for identification. The court clarified that all rights and contentions of the parties remain open for the Revenue to pursue in any other matter.

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