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41. It is further contended by the learned counsel for the respondent / assessee that this appeal under Section 260A of the IT Act by raising five substantial questions of law for consideration of this Hon'ble Court. The facts which arise in this appeal is addressed first and thereafter the grounds in support of the order of the Tribunal dated 30.09.2009 declaring Rs.486,38,96,690/- as income of the assessee. Assessee during the year claimed firstly income declared on sale of iron ore abroad, secondly expenses claimed towards transportation of iron ore from assessee's stock yard to port and thirdly expenses claimed towards excavation of iron ore, processing iron ore and royalty paid to the Government for transportation. On 13.07.2010 notice was issued u/s. 143(2) of the IT Act for scrutiny of the return of income to the assessee. On 28.10.2010 Section 92CA(1) of the IT Act, first Reference made by Assessing Officer to TPO-2, Bangalore to compute arms length price in respect of export sale of iron ore to M/s. GLA Trading International P. Ltd., worth Rs.205,07,08,959/- on the ground that M/s. GLA Trading International P. Ltd., and assessee had common Director. On 23.05.2012, Section 92CA(2A) of the IT Act, the second reference made by Assessing Officer relating to helicopter hiring charges paid to M/s OSS Air Management Pvt. Ltd., New Delhi and M/s Heligo Charter Pvt. Ltd, Mumbai of Rs.3,99,41,330/- on the ground that it amounted to international transaction. On 03.11.2010 Section 92CA(2B) of the IT Act Transfer Pricing Officer, proceeded to issue notice to the assessee to show cause as to why iron ore sold to GLA Trading International, Singapore should not be computed at "arms length price" by invoking the cup method of computation. On 10.12.2010, reply sent by the assessee to the Transfer Pricing Officer, stating that response filed to the penalty notice dated 04.02.2010 should be taken as a response to the show cause notice. On 23.01.2012 Section 92CA(2B) of the IT Act, the Transfer Pricing Officer, issued notice to the assessee proposing to treat the assessee and GLA Trading International Pte., Ltd., as "associated enterprises" for the previous year 01.04.2008 to 31.03.2009 i.e., AY. 2009-10.