TaxTMI 
TaxTMI 
2019 (3) TMI 490
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....ibunal that if the comparables which are Government Companies included by Ld. TPO are excluded by this Tribunal, then the assessee would be falling within the +/- 5% range and accordingly, the entire value of international transactions of the assessee would be at arm's length warranting no adjustment to Arm's Length Price (ALP). In that scenario, the adjudication of other grounds raised by the assessee in its appeal as well as by the revenue in its appeal would become academic in nature. We find this Tribunal had indeed passed an order on 10.01.2018 vide para no. 6 to 8 wherein it had held that comparable which are Government Companies are not to be considered as comparables for the purpose of benchmarking the international transactions of ....
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....The facts stated hereinabove by Ld. AR remain undisputed. We find from the arguments of the Ld. AR that it is only his mistake of wrongly admitting before this Tribunal at the time of hearing of the main appeal which had eventually resulted in the order of this Tribunal becoming erroneous. In this regard, he placed reliance upon the decision of the Hon'ble Supreme Court in the case of Honda Siel Power Products Ltd. Vs. CIT reported in (295 ITR 466)(SC) wherein he placed reliance on para no. 12 which is hereby reproduced as under.: - "12 As stated above, in this case we are concerned with the application u/s 254(2) of the 1961 Act. As stated above, the expression 'rectification of mistake from the record"occurs in section 154. It is also f....