Wednesday 22 January 2014

Since assessee failed to point out any defect in ITAT's order, rectification application dismissed

IT/ILT : Where assessee filed an application under section 254(2) seeking rectification of Tribunal's order confirming transfer pricing adjustment taking a plea that Tribunal failed to consider various grounds such as brand value of comparables, related party transactions, tolerance range etc., in view of fact that said issues had been considered in detail and there was no obvious or patent error in Tribunal's order, instant application was to be dismissed


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