Dismissing the petition the Court held that, merely because some of the transactions were subjected to transfer pricing mechanism, would not debar the Assessing Officer from exercising powers under S. 142(2A) of the Act, if the conditions for exercising such powers were otherwise satisfied. The Transfer Pricing Officer would be essentially concerned with the assessment of the arm’s length price of the specified transactions with an associated enterprise. Principle of natural justice is followed hence the reference to special audit is held to be valid. (AY. 2015-16)