- (1.) Delay condoned. Heard both sides. We are of the view that in the peculiar facts and circumstances of this case, particularly when the High Court has remitted the matter to the Transfer Pricing Officer from whose order an appeal is pending before CIT (A), it would, be in the interest of both sides to resort to alternate dispute resolution mechanism suggested in the Budget of 2009 (see Section 144-C of the Income Tax Act, 1961 ).
(2.) It is made clear that the competent authority will not reject the application herein made by the assessee on the ground that the proposal has come after the cut-off date. The learned Additional Solicitor General will, accordingly, communicate instructions to the Department. The competent authority will decide the matter not withs tanding the pendency of the appeal before CIT (A).
(3.) The special leave petitions are disposed of.;