Tribunal held that though the proposed transfer pricing adjustment was more than Rs. 10 crores in an earlier assessment year it was still pending with the Panel at the time of the Assessing Officer making a reference to the Transfer Pricing Officer for the year 2014-15. Till then the Assessing Officer had simply forwarded a draft of the proposed order of assessment to the assessee proposing to make variation in the income returned. None of the two conditions enshrined in Instruction of 2016 were satisfied inasmuch as neither was a transfer pricing adjustment of more than Rs. 10 crores made for an earlier year nor as a sequitur was there any question of such transfer pricing adjustment having been either upheld by a judicial authority or pending in appeal. The Assessing Officer did not invoke para 3.3(c) of the 2016 Instruction either at the time of seeking approval from the Principal Commissioner or making a reference to the Transfer Pricing Officer. Thus the Assessing Officer made a reference to the Transfer Pricing Officer in contravention of Instruction No.3 of 2016. Since the Instruction is binding on the Assessing Officer such reference was invalid and the consequential transfer pricing adjustment of Rs. 10.14 crores was deleted.  Instruction No. 3 Of 2016 dt. 10-3-201  ( AY.2014-15)