आदशे/ORDER

PER MANU KUMAR GIRI, JM:

The captioned appeal filed by the Revenue is directed against the order of the Ld. Ld. Commissioner of Income Tax (Appeals), chennai-16 [CIT(A)] dated 21.11.2024 for Assessment Year 2014-15.

2. The grounds raised by the Revenue read as under:-

“1. Whether on the facts and circumstances of the case, the Ld.CIT(A) was right in deleting the adjustment related to specified domestic transactions under sec 92BA clause (1) based only on judicial precedents and not delete the adjustments based on reason?

2. Whether on the facts and circumstances of the case, the Ld. CIT(A) was right in applying an amendment retrospectively to this case AY 2014-15 when the amendment is applicable w.e.f. 01.04.2017?”

3. Brief facts are that assessee company filed its return of income for AY 2014-15 on 29.11.2014 declaring loss of Rs.68,20,58,141/-, which was revised subsequently on 16.09.2015 admitting loss of Rs.68,12,68,141/-. During the course of assessment proceedings, the AO made reference to TPO for determining arm’s length price of specified domestic transaction. The TPO, Chennai passed an order u/s.92CA(3) on 30.10.2017 disallowing Rs.4,04,49,600/-. Subsequently, the AO