https://www.taxtmi.com/caselaws?id=65520 The Tribunal upheld the CIT's order to set aside the assessment and directed the AO to re-examine the issues, including referring the matter to the TPO for determining the ALP. The Tribunal confirmed that the AO's failure to follow CBDT's instructions and conduct proper inquiries made the assessment erroneous and prejudicial to the revenue's interest. However, the Tribunal vacated the CIT's directions concerning the Central Excise audit report due to its unavailability. The Tribunal emphasized the necessity of selecting the appropriate tested party based on reliable data. en-us Tue, 22 Jan 2008 00:00:00 +0530 Wed, 24 Jan 2024 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65520 The Tribunal upheld the CIT's order to set aside the assessment and directed the AO to re-examine the issues, including referring the matter to the TPO for determining the ALP. The Tribunal confirmed that the AO's failure to follow CBDT's instructions and conduct proper inquiries made the assessment erroneous and prejudicial to the revenue's interest. However, the Tribunal vacated the CIT's directions concerning the Central Excise audit report due to its unavailability. The Tribunal emphasized the necessity of selecting the appropriate tested party based on reliable data. Case-Laws Income Tax Tue, 22 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65520