Held, that the transfer pricing adjustment made by imputing interest on share application money had been deleted by the Tribunal in the assessee’s own case in the assessment year 2016-17 on the ground that  the amount was refunded before the allotment of preference shares, and  the transaction of subscription of preference shares itself was not found to be bogus or sham. Since, the transfer pricing adjustment made in this year was a continuation of earlier year’s action of the Transfer Pricing Officer and since the earlier year’s transfer pricing adjustment had been deleted by the Tribunal, the Assessing Officer is directed  to delete the transfer pricing adjustment. (AY.2017-18, 2018-19)