2018 (12) TMI 903

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....sh R. Shah For the Respondent : Shri Chaudhary Arun Kumar Singh ORDER U/S. 254(2) OF THE INCOME TAX ACT, 1961 PER SHAMIM YAHYA, A. M.: By way of this miscellaneous application the assessee seeks order u/s. 254(2) of the Income Tax Act, 1961 ('the Act' for short) against the tribunal's order in ITA No. 689/Mum/2017 for assessment year 2012-13 vide order dated 18.10.2017. 2. The l....

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....idences, your Honours have not provided any findings with respect to these grounds of appeal. The Applicant fears that without any specific directions, the lower authorities would not reconsider the issue of transfer pricing adjustment on account of payment of 'Corporate Fees'. This would effectively mean that the said addition on account of payment of 'Corporate Fees' is confirmed. ....

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.... at all permissible in law. 4. In this regard, we place reliance upon the decision of Hon'ble jurisdictional High Court in the case of CIT vs. Ramesh Electric and Trading Co. [1993] 203 ITR 497 (Bom). In the said order, the Hon'ble jurisdictional High Court has referred to and drawn strength from the Hon'ble Apex Court decision in the case of T.S. Balaram, ITO v. Volkart Bros. [1971] 82....

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....which requires to be established by arguments and a long drawn process of reasoning on points on which there may conceivably be two opinions, as has been shown in the present case. Failure by the Tribunal to consider an argument advanced by either party for arriving at a conclusion is not an error apparent on the record, although it may be an error of judgment. 6. Thus from the above discussion....