2015 (11) TMI 1524

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.... 7th November, 2012 is in respect of the Assessment Year 200708. 2. The Revenue urges the following questions of law for our consideration : "(i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the adjustment arising out of the Arms Length Price (ALP) is to be restricted to only International Transactions with the Associated Enterprise instead of entire turnover of the assessee ? (ii) Whether on the facts and in the circumstances of the case and in law, the order of the Tribunal is not perverse in view of the fact that considering the mean margin figure of 5.34% as adopted by the Tribunal, the ALP determined by the TPO is Rs. 53,68,52,698/whereas in para 12 of....

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....e. In support, reliance was placed upon the fact that two appeals filed by the Revenue being Income Tax Appeal No.298 of 2013 (The Commissioner of Income Tax Vs. M/s. Super Diamonds) and Income Tax Appeal No.2068 of 2011 (The Commissioner of Income Tax Vs. Ankit Diamonds) raising a similar issue have been admitted on 5th May, 2014 and 16th February, 2015 respectively. On the other hand, the Respondent Assessee invites our attention to the decision of this Court in Commissioner of Income Tax8 Vs. M/s. Tara Jewels Exports Pvt. Ltd. being Income Tax Appeal No. 1814 of 2013, decided on 5th October, 2013 and Commissioner of Income Tax Vs. Keihin Panalfa Ltd. in ITA No.11 of 2015 decided on 9th September, 2015, wherein the view taken by the Tribu....