S. Ravindra Bhat, J.

"A phrase begins life as a literary expression; its felicity leads to its lazy repetition; and repetition soon establishes it as a legal formula, un-discriminatingly used to express different and sometimes contradictory ideas".

Justice Felix Frankfurter in Tiller v. Atlantic Coast Line Railroad Co., 318 U.S. 54 (1943)

1. Is there a concept of "super profit" in the arm's length price/transfer price determining process under the Income Tax Act, 1961 ("the Act") or the Rules framed thereunder, entitling tax administrators to include high profit making companies' data in the list of "comparables"? Benches of Income Tax Appellate Tribunal ("ITAT"), appear to be riven in their opinion on this; it is the subject matter of the present appeal.

2. The questions framed for decision in this appeal, under Section 260-A of the Act, arising from an order of the Income Tax Appellate Tribunal ("ITAT") dated 20.12.2013 in ITA No. 6183/Del/2012 for assessment year (AY) 2008-09, are as follows:

(1) Whether the proviso to Rule 10B(4) of the Income Tax Rules, 1962 will be a