2016 (5) TMI 454

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.... only in respect of international transactions or this adjustment is to be done in respect to all the business transactions of the Assessee i.e. at entity level. 2. A similar issue which was raised by the Revenue before this Court in Commissioner of Income Tax Vs. M/s. Tara Jewels Exports Pvt. Ltd. (Income Tax Appeal No.1814 of 2013) decided on 5th October, 2015, Commissioner of Income Tax Vs. Goldstar Jewellery Design (P.)Ltd. (2016) 67 taxmann.com 86 (Bombay) and Commissioner of Income Tax Vs. Ratilal Becharlal & Sons (2016) 65 taxmann.com 155(Bombay) by the Revenue while challenging the orders of the Tribunal restricting the transfer pricing adjustment only in respect of international transaction between Associated Enterprises. ....

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....ted by the same counsel in Global Jewellery Pvt. Ltd. (supra) and in M/s. Tara Jewels Exports Pvt. Ltd. (supra) i.e. the first in the three cases referred to above. Moreover the same counsel in M/s. Goldstar Jewellery Design (P.) Ltd. (supra) did not dispute that this issue is concluded against the Revenue by the decision in M/s. Tara Jewels Exports Pvt. Ltd. (supra). 4. Mr. Pinto, the learned counsel for the Revenue is unable to inform us whether M/s. Global Jewellery Pvt. Ltd. (supra) has been served with notice of the Appeal of the Revenue having been admitted. Further he is also unable to inform us whether a decisions of this Court in Tara Jewels Exports Pvt.Ltd. (supra), Goldstar Jewellery Design (P.)Ltd. (supra) and Ratilal B....

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....td. (supra) when he appeared in the other two appeals referred to above. We are unable to understand the above submission. Each Commissionerate is not a separate entity. All of them are a part of the Income Tax Department which as an entity is in appeal before us in all the above cases. We understand that Mumbai has a Chief Principal Commissioner of Income Tax at the helm of all the Chief Commissioners in Mumbai. Thus they must be having a system in place of keeping a record of question of law which have been admitted or dismissed by this Court so that a consistent stand is taken by the Revenue when a similar questions arises before the same or different bench of this Court. 4. In the above circumstances, we direct Mr. Pinto, the learned....