2018 (1) TMI 752

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....assessee. The Income Tax Appeal No.07 2017, under Section 260-A of the Income Tax Act, 1961(hereinafter referred to as the 'Act') has been filed by the department against the order of the Income Tax Appellate Tribunal dated 12.06.2015 for the assessment year 2008-09 raising following questions of law:- "A. Whether on the facts and circumstances of the case, the learned ITAT was justified in law in rejecting the appeal of the revenue without appreciating that the assessee had not furnished the details of closing stock which were attributed to the sales to the Associated Enterprises (AE) before the TPO? B. Whether on the facts and circumstances of the case, the learned ITAT was justified in law in confirming the order of CIT (A) ....

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....ted to give financial details of comparable companies (as adopted by the TPO in A.Y. 2008-09). The letter reads as under: "F.No. CIT(A)-I/310/DCIT-VI/KNP/2012-13 Dated:04/01/2013 To, The Principal Officer M/s Rahman Industries Ltd. Kanpur Sub: Appellate Proceedings for A.Y. 2007-08--Reg Please refer to above. 2. In this regard, it is noticed from the T.P. Order for A.Y. 2007-08 that the CUP method adopted by you to compute the ALP was rejected by the TPO. The TPO had applied RSM method for computing the ALP. You have stated in your submissions that RSM was not a correct method to determine the ALP for the assessee, who was an exporter and not an importer. 3. You are requested to file the necessary financial details along with comput....