2019 (3) TMI 1810

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.....DR ORDER Manoj Kumar Aggarwal, 1. By way of this Miscellaneous Application, the assessee seeks certain rectification in Tribunal order dated 14/11/2018 for Assessment Year 2012-13.  2. Drawing our attention to the application, Ld. Authorized Representative for Assessee [AR], Shri Rajan Vora, submitted that the Tribunal while adjudicating assessee's ground qua Transfer Pricing adj....

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....pediency and real-income theory. It was also submitted that for the purpose of benchmarking of interest, the comparable to be adopted should be loan given by banks which have turned into stressed assets since the AE has not been able to repay any of its debts and the loans have finally being converted into equity in FY 2016-17. The Ld. AR further submitted that the decision of special bench cited ....

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....ong as the transactions is an international transaction within the framework of law, the computation of income there-from has to be on the basis of arm's length principle.  While arriving at such a conclusion, strength has been drawn from the cited decision of the special bench. This being the case, the submission that the cited decision was factually different and distinguishable, in our opi....