Schefenacker Motherson Ltd. v. ITO

123 TTJ 509Income Tax Appellate Tribunal2009#6046 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Sections most often in play

Section 143(3)Section 92C(2)Section 92CA(3)Section 144C Section 92CA(1)Section 144B Section 144C(13)Section 10B(1)(e)

Issues it is cited on

safe harbour rules safe harbour section 92c(2)tested party transactional net margin method far analysis section 92ca(1)comparable companies related party transaction working capital adjustment most appropriate method tnmm

Judgments citing Schefenacker Motherson Ltd. v. ITO

EMERSON ELECTRIC COMPANY (INDIA)PVT. LTD,MUMBAI vs. DCIT 1(2) (1) JURISDICTIONAL ASSESSING OFFICER, MUMBAI

In the result, this ground of appeal is allowed

ITA 2323/MUM/2022[2018-19]Status: DisposedITAT Mumbai28 May 2025AY 2018-19

Bench: Shri Pawan Singh&Girish Agrawal(Physical Hearing) Emerson Electric Company (India) Dcit, Range-1(2)(1), Mumbai Private Limited, Delphi ‘B’ Wing, Vs Aayakar Bhawan, 601-603, Orchard Avenue, Mumbai Hiranandani Business Park, Powai, Mumbai-400076. [Pan No. Aaace1260B] Appellant / Assessee Respondent / Revenue

Section 143(3)Section 144BSection 144C(13)Section 254(1)

…nses and its policies on profitability of the comparable companies and assessee to support such submission, the ld. AR relied upon the following case laws:  CIT Vs Reuters India (P) Ltd. (2016) 69 taxmann.com 187 (Bombay)  Schefenacker Motherson Ltd. Vs ITO 123 TTJ 509 (Del. Trib)  DCIT Vs Epcos Ferrites Ltd. (ITA No. 1597/Kol/2017) (Kol. Trib.) 20. On the other hand, the CIT DR for the Revenue supported the order of lower authorities. 21. We have considered the rival submissions of both the parties and gone through the orders of lower authorities carefully. We find that there is no dispute that the assesse…

ACIT, CIRCLE- 27(2), NEW DELHI vs. YUTAKA AUTOPARTS INDIA PVT. LTD., DELHI

In the result appeal of the Revenue in ITA No

ITA 2795/DEL/2018[2012-13]Status: DisposedITAT Delhi16 Oct 2024AY 2012-13

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 143(3)Section 92C(2)

…370) (10,495,370) OP/Sales 1.60% 11.39% 43. The taxpayer relied upon the decision rendered by the coordinate Bench of the Tribunal in cases of ACIT vs. Gates India (P) Ltd. - ITA No.75/Del/2011 order dated 31.07.2017 and Schefenacker Motherson Ltd. vs. ITO - 123 TTJ 509 (Delhi). 44. The ld. DR for the Revenue supporting the order passed by the TPO/DRP contended that the taxpayer is required to choose one of the method provided u/s 92C of the Act for computing the ALP under TNMM and the mandate for determining the ALP under TNMM as given as per Rule 10B(1) of the Act and further contended that the cash profit ca…

YUTAKA AUTOPARTS INDIA PVT. LTD.,DELHI vs. DCIT, CIRCLE- 27(1), NEW DELHI

In the result appeal of the Revenue in ITA No

ITA 2742/DEL/2018[2012-13]Status: DisposedITAT Delhi16 Oct 2024AY 2012-13

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 143(3)Section 92C(2)

YUTAKA AUTOPARTS INDIA PVT. LTD.,DELHI vs. ITO, NEW DELHI

In the result appeal of the Revenue in ITA No

ITA 1607/DEL/2017[2011-12]Status: DisposedITAT Delhi16 Oct 2024AY 2011-12

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 143(3)Section 92C(2)

JAMSHEDPUR CONTINUOUS ANNEALING & PROCESSING COMPANY PVT. LTD.,KOLKATA vs. ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, both the appeals filed by the assessee in ITA No

ITA 295/KOL/2022[2018-19]Status: DisposedITAT Kolkata26 Feb 2024AY 2018-19

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

Section 143(3)Section 144C(5)Section 154Section 270A

…elied upon various decisions including that of Hon’ble Delhi ITAT in SchefenackerMotherson various decisions including that of Hon’ble Delhi ITAT in SchefenackerMotherson various decisions including that of Hon’ble Delhi ITAT in SchefenackerMotherson Limited (123 TTJ 509) wherein it was held that the transfer pricing regulati Limited (123 TTJ 509) wherein it was held that the transfer pricing regulati Limited (123 TTJ 509) wherein it was held that the transfer pricing regulations do not provide for mandatory deduction of depreciation and that depreciation could be provide for mandatory deduction of depreciation a…

JAMSHEDPUR CONTINUOUS ANNEALING & PROCESSING COMPANY PRIVATE LIMITED,KOLKATA vs. NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, both the appeals filed by the assessee in ITA No

ITA 595/KOL/2021[2017-18]Status: DisposedITAT Kolkata26 Feb 2024AY 2017-18

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

Section 143(3)Section 144C(5)Section 154Section 270A

ADM AGRO INDUSTRIES KOTA & AKOLA P.LTD,GURUGRAM vs. ACIT, CIRCLE-1(1) , NEW DELHI

In the result, appeal is partly allowed

ITA 2281/DEL/2022[2018-19]Status: DisposedITAT Delhi13 Jun 2023AY 2018-19

Bench: Shri G.S. Pannu & Shri Saktijit Deyassessment Year: 2018-19 Adm Agro Industries Kota & Versus Acit, Circle 1(1), Akola P. Ltd., 3Rd Floor, Vatika New Delhi Professional Point, Golf Course Extension Road, Sector-66, Gurgaon. Pan: Aabcs9646L (Appellant) (Respondent)

For Appellant: Sh. Ajay Vohra, Sr. Advocate &For Respondent: Sh. Rajesh Kumar, CIT-DR

Section 143(3)Section 144C(13)

…t. Ltd. v. CIT (ITA No. 306/2012) (iv). Mitsubishi Corporation India Ltd. vs. DCIT (ITA No. 5042/Del/2011 dated 21.10.2014). (v). Marubeni Itochu Steel India Pvt. Ltd. v. DCIT (ITA No. 761/Del/2015 dated 24.07.2015) (vi). Schefenacker Motherson Ltd v. ITO (123 TTJ 509) Delhi. (vii). Cheil Communications India Pvt. Ltd. v. DCIT (ITA No. 712/Del/2019 dated 30.11.2010). (viii). M/s. Qual Core Logic Ltd. v. CIT (ITA No. 893/Hyd/2011 dated 31.05.2012) 11 12. Therefore, he submitted, as per the ratio laid down in the aforesaid judicial precedents, OP/VAC as PLI is permissible under Rule 10(B)(1)(e). Thus, he subm…

DE DIAMOND ELECTRIC INDIA PVT. LTD.,REWARI vs. DCIT, NEW DELHI

In the result, the appeal is partly allowed

ITA 1109/DEL/2017[2010-11]Status: DisposedITAT Delhi19 Jan 2023AY 2010-11

Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2010-11

…of the assessee works out to 15.80% as against the average margin of comparables worked out 7 | P a g e AY: 2010-11 at 13.89%. In support of such contention, learned counsel relied upon the following decisions: i. Schefenacker Motherson Ltd. Vs. ITO [2009] 123 TTJ 509 (Delhi) ii. DCIT Vs. Reuters India (P.) Ltd. [2013] 33 taxmann.com 481 (Mumbai – Trib.) iii. CIT Vs. Reuters India (P.) Ltd. [2016] 69 taxmann.com 187 (Bombay) iv. Qual Core Logic Ltd. Vs. DCIT [2012] 22 taxmann.com 4 (Hyd.) v. Amdocs Business Services (P.) Ltd. Vs. DCIT [2012] 26 taxmann.com 120 (Pune) vi. DCIT Vs. Epcos Ferrites Ltd. […

M/S. TE CONNECTIVITY SERVICES INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

In the result, the appeal by the assessee is partly allowed for statistical purposes

ITA 300/BANG/2021[2016-17]Status: DisposedITAT Bangalore26 May 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(Tp)A No.300/Bang/2021 Assessment Year : 2016-17

For Appellant: Shri Sriram Sheshadri & Ms. Amulya K., CAsFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru

Section 143(3)

…for benchmarking:- Rakhra Technologies (P.) Ltd., 347 ITR 484 (P&H) B.A. Continuum India Pvt Ltd. ITA 440 of 2014 (Telangana) ICON Clinical Research India Pvt. Ltd. ITA No.1034/Mds/2014 Qual Core Logic Ltd., ITA No.893/Hyd/2014 Schefenacker Motherson Ltd.,, 123 TTJ 509 Philips Medical Systems (P.) Ltd., 98 taxmann.com 296 Profit arising from goodwill 12. It was submitted that the Appellant had agreed to pay a premium, i.e., goodwill, in anticipation of benefits from the acquired business in the long-term. The Appellant cannot be expected to recoup the benefits/profits from goodwill within a short period of 5…

M/S CONTINENTAL AUTOMOTIVE COMPONENTS INDIA PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2(1)(1), BANGALORE

In the result, the appeal is partly allowed

ITA 129/BANG/2019[2014-15]Status: DisposedITAT Bangalore29 Mar 2022AY 2014-15

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year :2014-15 M/S. Continental Automotive Vs. Dcit, Components India Pvt. Ltd., Circle – 2(1)(1), Plot No.53B, Bommasandra Industrial Bengaluru. Area, Hosur Road, Attibele Hobli, Anekal Taluk, Bengaluru–560 099. Pan : Aakcs 9578 C Appellant Respondent Assessee By : Shri. T. Suryanarayana, Senior Advocate Revenue By : Shri. Mudavathu Harish Chandra Naik, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 21.03.2022 Date Of Pronouncement : 29.03.2022 O R D E R

For Appellant: Shri. T. Suryanarayana, Senior AdvocateFor Respondent: Shri. Mudavathu Harish Chandra Naik, CIT(DR)(ITAT), Bengaluru

Section 143(3)Section 92

…nsel for Assessee relied on the following judicial precedents: Continental Automotive Components India Pvt.Ltd. Page 37 of 97 - CIT v. Petro Araldite Pvt. Ltd reported in [2018] 93 taxmann.com 438 (Bombay) - SchefenackerMotherson Ltd vs. ITO reported in[2009] 123 TTJ 509 (Delhi) - CIT vs. Rakhra Technologies Private Limited reported in [2011] 15 taxmann.com 266 (Punjab & Haryana) - Amdocs Business Services (P.) Ltd. v. DCIT reported in [2012] 26 taxmann.com 120 (Pune) - ACIT v. Fiat India (P.) Ltd. [IT Appeal No.1848 (Mum) of 2009, dated 30-04-2010] - Brintons Carpets Asia (P) Ltd v. DCIT reported in [2011] 12 ta…

M/S. WIELAND METALS INDIA PRIVATE LIMITED,BANGALORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, WARD- 7(1)(3), BANGALORE

In the result, the appeal by the assessee is partly allowed for statistical purposes

ITA 2394/BANG/2019[2015-16]Status: DisposedITAT Bangalore22 Sept 2021AY 2015-16

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri K.P. Srinivas, CAFor Respondent: Shri Pradeep Kumar, CIT(DR) (ITAT), Bengaluru

Section 143(3)Section 144C(5)Section 92C

…./2009 dated 30.04.2010; • Skoda Auto India (P.) Ltd. vs. ACIT, 122 TTJ 699 (Pune); • Egain Communication (P.) Ltd. vs. ITO 118 TTJ 354 (Pune); • Amdocs Business Services (P.) Ltd. vs. DCIT 26 taxmann.com 120 (Pune); and, • Schefenacker Motherson Ltd. vs. ITO 123 TTJ 509 (Delhi) 40. Hence, based on the facts of the case and judicial precedents submitted above, it was submitted that the idle capacity adjustment ought to have been allowed while arriving at the Operating Profit Method since the Company functioned only up to 33.62% of its capacity. Since under- utilisation of capacity during that year was significant…

BERGEN ENGINES INDIA PVT. LTD.,NEW DELHI vs. ACIT, CIRCLE- 4(2), NEW DELHI

ITA 7802/DEL/2017[2013-14]Status: DisposedITAT Delhi27 Apr 2020AY 2013-14

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kant, Accountantmember

Section 92C

…d a definite adjustment as per rules. - Reliance in this regard is placed on following judicial precedents: • Sabic Research and Technology Pvt. Ltd. (1065/Ahd/2012) • Siemens Healthcare Diagnostics Ltd. Vs. ACIT (152 ITD 155) • SchefenackerMotherson Limited (123 TTJ 509) –“The taxpayer in both the assessment year showed before the revenue authorities that profit shown by the taxpayer satisfies arm’s length requirement on ratio of cash profit to sales if uniformly applied. As the deduction of depreciation is leading to wide differences, the same should be excluded.” • M/s. Qual Core Logic Limited Vs. Deputy CIT (…

DCIT, CIRCLE - 11(1), KOLKATA, KOLKATA vs. M/S. EPCOS FERRITES LTD., (SINCE MERGED WITH M/S. EPCOS INDIA P. LTD.,), NADIA

In the result, the both appeals filed by the revenue are dismissed, except other ground no

ITA 1597/KOL/2017[2002-03]Status: DisposedITAT Kolkata30 Jan 2019AY 2002-03

Bench: Shri A.T. Varkey, Jm & Dr.A.L.Saini, Am

For Appellant: Smt. Rituparna SinhaFor Respondent: Dr. P.K. Srihari, CIT, ld.DR

Section 143(3)Section 40Section 40ASection 40A(7)Section 40A(9)Section 43BSection 80H

…iation in the profit level of the comparables arising due to adoption of different method of charging depreciation. For this we rely on the judgment of the Coordinate Bench of ITAT Delhi in the matter of SchefenackerMotherson Ltd. V. Incometax Officer [2009] 123 TTJ 509 (Delhi) wherein coordinate bench confirmed the use of cash profit for the purpose of application of the TNMM.We also rely on the decision of the Hon'ble Bombay High Court in the matter of CIT vs. Reuters India (P) Ltd reported in [2016] 69 taxmann.com 187 (Bombay) wherein the Hon'ble High Court confirmed the application of the cash profit margin…

LUBRIZOL ADVANCED MATERIALS PRIVATE LIMITED,,MUMBAI vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-1(2),, VADODARA

In the result, appeal of the assessee is allowed for statistical purposes

ITA 1349/AHD/2016[2009-10]Status: DisposedITAT Ahmedabad15 Nov 2018AY 2009-10

Bench: Shri Waseem Ahmed & Smt Madhumita Royआयकर अपील सं./I.T.A. No. 1349/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2009-10) Lubrizol Advanced Materials Acit, बनाम/ Private Limited, Circle – 1(2), Vs. 6Th & 7Th Floor, Jaswanti Baroda. Landmark, Mehra Industrial Estate, Lbs Marg, Vikhroli (W), Mumbai-400 079. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci 4361 B .. (अपीलाथ"/Appellant) (""यथ" / Respondent) Shri Dhanesh Bafna, A.R. अपीलाथ" ओर से/ Appellant By : Shri Lalit P. Jain, Sr. D.R. ""यथ" क" ओर से/Respondent By:

For Appellant: Shri Lalit P. Jain, Sr. D.R

Section 143(3)Section 144Section 271(1)(c)

…Materials India Pvt. Ltd. vs ACIT A.Y. 2009-10 - CIT vs. BA Continuum India Pvt. Ltd (ITA No 449 of 2014) (Andha Pradesh & Telangana HC) - BA Continuum India Pvt. Ltd. Vs. ACIT (ITA No. 1154/Hyd/2O11) (Hyd. Trib.) - Schefenacker Motherson Ltd. Vs. ITO [2009] (123 TTJ 509) (Del. Trib.) - Erhardt Liemer India Pvt. Ltd. vs. ACIT [2017] (78 Taxman.com 258) (Ahd. Trib.) Conclusion II the Appellant's contention of using Cash PLI as an appropriate PLI is accepted, the Appellant's transactions would 1 at arm's length since the Appellant has earned a higher margin than that of comparable companies as shown in the table b…

YUTAKA AUTOPARTS INDIA PVT. LTD.,DELHI vs. ITO, NEW DELHI

ITA 1807/DEL/2015[2010-11]Status: DisposedITAT Delhi04 Jul 2018AY 2010-11

Bench: Shri R.K. Panda & Shri Kuldip Singh

For Appellant: Shri Gaurav Garg, CAFor Respondent: Shri Sanjay Kumar Yadav, Senior DR

Section 143Section 144C

…70) (10,495,370) OP/Sales 1.60% 11.39% 43. The taxpayer relied upon the decision rendered by the coordinate Bench of the Tribunal in cases of ACIT vs. Gates India (P) Ltd. – ITA No.75/Del/2011 order dated 31.07.2017 and Schefenacker Motherson Ltd. vs. ITO – 123 TTJ 509 (Delhi). 44. The ld. DR for the Revenue supporting the order passed by the TPO/DRP contended that the taxpayer is required to choose 24 ITA No.1807/Del./2015 one of the method provided u/s 92C of the Act for computing the ALP under TNMM and the mandate for determining the ALP under TNMM as given as per Rule 10B(1) of the Act and further conte…

M/S LOGITECH ENGINEERING & DESIGN INDIA PRIVATE LIMITED,CHENNAI vs. DCIT, BANGALORE

In the result, the appeal of the assessee is allowed and the appeal of the Revenue is dismissed

ITA 287/BANG/2015[2010-11]Status: DisposedITAT Bangalore03 Mar 2017AY 2010-11

Bench: Shri Sunil Kumar Yadav

For Appellant: Shri. Vishal Kalsa, CAFor Respondent: Smt. Preeti Garg, CIT-DR

…Ltd is WDV, as against SLM used by the assessee. Reliance is placed on the following decisions where courts have held that depreciation is to be excluded when there is difference on account of calculation method : - Schefenacker Motherson Ltd v. ITO [(2009) 123 TTJ 509 (Del) - Pentair Water India P. Ltd v. ACIT [(2014) 164 TTJ 502 (Panaji] It(tp)a.287 & 127/Bang/2015 Page - 14 10. We have heard the rival submissions. The relevant portion of the order from this Tribunal in the case of Deputy Commissioner of Income-tax, Circle-3(1)(2), Bangalore v. Electronics for Imaging India (P.) Ltd. for assessment year 2…

M/S. G4S SECURITY SERVICES (INDIA) PVT. LTD.,GURGAON vs. ACIT, NEW DELHI

In the result, appeal filed by the assessee stands allowed for statistical purposes and the appeal filed by the Revenue stands dismissed

ITA 1540/DEL/2012[2007-08]Status: DisposedITAT Delhi03 Aug 2016AY 2007-08

Bench: Shri N. K. Saini & Smt. Beena A. Pillai

For Appellant: Shri Mukesh Bhutani, AdvFor Respondent: shri Neeraj Kumar, Sr. DR

Section 143(2)Section 143(3)Section 144CSection 37(1)Section 92C

…profit. The adjustments are then required to be made to level out the functional difference. Ld. A.R. has placed reliance upon the following decisions which are as under: i) Qual Core Logic Lt. Vs DCIT 52 SOT 574 (Hyd.) ii) Schefenacker Motherson Ltd. Vs ITO 123 TTJ 509 (Del.) iii) Skoda Auto India (P) Ltd. Vs ACIT 30 SOT 319 (Pune) iv) Sony India (P) Ltd. Vs DCIT 114 ITD 448 (Del.) v) E-Gain Communications (P) Ltd. Vs ITO 23 SOT 385 (Pune) 10 I.T.A.No..1540/Del/2012 vi) Mentor Graphics (Noida) Pvt. Ltd. Vs DCIT 109 ITD 101 (Del.) 9.4 In view of above and respectfully following the ratio laid down by the abov…

RADASHIR JEWELLERY CO. P.LTD,MUMBAI vs. ASST CIT CIR 8(3), MUMBAI

ITA 7066/MUM/2013[2008-09]Status: DisposedITAT Mumbai08 Jul 2016AY 2008-09

Bench: S/Sh.Rajendra & C.N. Prasadआयकर अपील अपील संसंसंसं./I.T.A./7066/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2008-09 आयकर आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Radhashir Jewellery Co.Pvt. Ltd. Acit , Circle-8(3) Aayakar Bhavan, 2Nd Floor, M.K. Road Army Navy Press Building, Plot No.118 Road No.18, Midc Vs. Mumbai-400 020. Mumbai-400 093. Pan:Aadcr 2944 L (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By:Shri Inder Solanki Assessee By: Shri Vijay Mehta सुनवाई की तारीख / Date Of Hearing: 03.05.2016 घोषणा की तारीख / Date Of Pronouncement: 08.07.2016 आयकर अिधिनयम,1961 की धारा 254(1)के अ"ग"त आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद" राजे" के अनुसार Per Rajendra, Am- Challenging The Order Dated 11.09.2013 Of The Cit(A)-15,Mumbai,The Assessee Has Filed The Present Appeal Raising Various Grounds Of Appeal.Assessee-Company, Engaged In The Business Of Manufacturing/Exporting Diamond Studded Jewellery, Filed Its Return Of Income On 24.09.2009.During The Assessment Proceedings, The Ao Found That The Assessee Had Entered Into Following International Transactions (It.S) With Its Associate Enterprises(Ae.S): Sn. Transaction Amount(Rs.) Method 1 Tnmm Sale Of Diamond Studded Jewellery (Receipt) 16,31,34,795/- 2 Purchase Of Cut & Polished Diamond (Paid) 90,46,660/- Tnmm 3 Purchase Of Findings (Paid) 8,20,390/- Tnmm

For Appellant: Shri Vijay MehtaFor Respondent: Shri Inder Solanki

Section 143(3)Section 254(1)

…,.He relied upon the cases of M/s Fiat India Pvt. Ltd.(ITA/1848/Mum./2009 dated 30. 04.2010); Skoda Auto India (P.) Ltd.(122 TTJ 699)Egain Communication (P.) Ltd.(118 TTJ 354);Amdocs Business Services (P.) Ltd.(26 taxmann.com 120); Schefenacker Motherson Ltd.(123 TTJ 509) . 4.3.1The Departmental Representative(DR)supported the order of the FAA and stated that the FAA had extensively dealt with the issue of under utilization of capacity of the assessee .He referred to the case of the Delhi Bench of the Tribunal delivered in the case of Haworth (India) P. Ltd.(131 ITD 215). 5.We have heard the rival submissions a…

MOSER BAER INDIA LTD vs. DCIT CIRCLE -5 (1),

In the result appeal is allowed

ITA 882/DEL/2008[2002-2003]Status: DisposedITAT Delhi08 Dec 2015AY 2002-2003

Bench: Shri A.T. Varkey & Shri S.V.Mehrotra

For Appellant: Shri Neeraj Jain, Adv, Rama Katyal CA &For Respondent: Shri Amrender Kumar, CIT DR

Section 92C

….e., the two parties are to be placed in similar situation to make comparison of like with like possible. Reliance n this regard is placed on the following case laws: Egain Communication (P) Ltd. vs DCIT 118 ITD 243 (Kol) Schefenacker Motherson Ltd. vs. ITO 123 TTJ 509 (Del) Honeywell Automation Pvt. Ltd. vs. DCIT 108 TTJ 924 (Del) Mentor Graphics (Noida) (P) Ltd. vs. DCIT 109 ITD 101 (Del) DCIT vs. Sony India (P) Ltd. 114 ITD 488 (Del) Skoda Auto India (P) Ltd. vs. ACIT 122 TTJ 699 (Pune) It is to be appreciated that the comparison of prices charged from GMI without making the aforesaid adjustments with t…