2012 (4) TMI 844

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....sions and perusing the relevant material on record, it is observed that similar disallowance was made by the AO in the immediately preceding assessment year i.e. 2005-06. The Tribunal, vide its order dated 31-01-2012 in ITA No. 4089/Mum/2011 for such preceding year has restored the matter to the file of AO for taking a fresh decision in the light of the guidelines laid down in para-13. Both the sides are in agreement that the facts and circumstances of the instant year are mutatis mutandis similar to those of the immediately preceding year. Respectfully following the precedent, we set aside the assessment order on this point and direct the AO to re-decide this issue in consonance with the observations made by the Tribunal in the immedi....

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....ere not available which resulted into adoption of the figures of the assessee as a whole instead of the figures of international transactions with the associated enterprises. The ld. AR stated that the assessee is now having segmental results prepared from the books of account regularly maintained in respect of each segment. Relying on the order passed by the Mumbai Tribunal in Technimount ICB (P) Ltd. vs. ACIT (2011)11 taxman.com 49 (Mum), the ld. AR contended that the tribunal in such circumstances has held that where the assessee did not initially had segment-wise audited accounts but subsequently got such segmental results prepared, the matter required fresh examination by the AO. In this case, the tribunal has restored the matter back ....