Specified domestic transaction under section 92BA(v) justified recall; omission of section 92BA(i) did not affect the adjustment.

A miscellaneous application seeking recall was held maintainable because the transfer pricing adjustment arose from a specified domestic transaction under section 92BA(v), involving transfer of finished goods from a non-eligible unit to an eligible unit under section 80-IC. The Tribunal found that the earlier order had wrongly treated omission of section 92BA(i) as determinative, whereas that omission did not affect the transaction in issue. The mistake in the earlier order justified recall, and the matter was restored for fresh hearing.

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Issues: Whether the miscellaneous application seeking recall of the Tribunal's earlier order was maintainable on the ground that the transfer pricing adjustment arose from a specified domestic transaction falling under section 92BA(v), and not from the omitted clause (i) of section 92BA.

Analysis: The earlier order had proceeded on the basis that omission of section 92BA(i) rendered the reference to the Transfer Pricing Officer invalid. On reappraisal, the Tribunal noted that the impugned adjustment related to transfer of finished goods from a non-eligible unit to an eligible unit in the context of section 80-IC, bringing the transaction within section 92BA(v). The omission of section 92BA(i) did not affect the transaction in question, and the earlier order was found to contain a mistake warranting recall.

Conclusion: The miscellaneous application was maintainable and was allowed; the earlier order was recalled and the appeal was fixed for fresh hearing.

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