UCB India (P) Limited v. ACIT

121 ITD 131Income Tax Appellate Tribunal2009#1621 most cited

What is UCB India (P) Limited v. ACIT authority for?

For transfer pricing purposes, distinct international transactions, such as royalty payments and manufacturing, should be benchmarked separately rather than aggregated. The selection of comparables must be based on a thorough Functions, Assets, and Risks (FAR) analysis, and loss-making entities are not automatically excluded if they satisfy other comparability criteria.

70

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2026.

Also referred to as

UCB India v ACIT · 121 ITD 131 · transfer pricing · aggregation of international transactions · separate benchmarking · royalty payments · FAR analysis · Functions Assets Risks · selection of comparables · loss-making comparables · arm's length principle · section 44DA

Also reported as

30 SOT 956 Taxmann.com 98

Sections most often in play

Section 1961Section 44BBSection 44DASection 9(1)(vi)Section 9(1)(vii)Section 115ASection 115A of the Income Tax ActSection 44BB of the Income Tax Act

Issues it is cited on

section 44dasection 293economic adjustmentsection 44bbsection 100profit split methodfar analysissection 44bresale price methodsection 44dbright line testsection 36(l)(va)

Judgments citing UCB India (P) Limited v. ACIT

M/S. Fag Bearings India Ltd., Baroda vs. The ACIT, Circle-1(2), Baroda

ITA 799/AHD/2016[2008-09]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2008-09

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

For Appellant: Shri Milin Mehta, A.R
Section 36Section 36(1)(iv)Section 40A(2)(b)Section 40A(9)Section 92C

…d be treated as arm’s length. 105.5 However, the Ld. DRP rejected the contention of the assessee regarding the aggregation of the transactions to determine the ALP by placing the reliance on the ITAT judgment in case of UCB India (P) Ltd Vs ACIT reported in 121 ITD 131 wherein ITAT held that the international transaction has to be evaluated on a standalone basis. In view of the above the Ld. DRP rejected the aggregation of the transaction done by the assessee. 105.6 Further, the Ld. DRP also observed that the TPO during the assessment proceeding for AY 2007-08 computed the average rate of the ITA No.4565/Ahd/2…

The ACIT, Circle-5, Ahmedabad vs. M/S. Nabros Pharma Ltd., Ahmedabad

ITA 788/AHD/2016[2008-09]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2008-09

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

For Appellant: Shri Milin Mehta, A.R
Section 36Section 36(1)(iv)Section 40A(2)(b)Section 40A(9)Section 92C

…d be treated as arm’s length. 105.5 However, the Ld. DRP rejected the contention of the assessee regarding the aggregation of the transactions to determine the ALP by placing the reliance on the ITAT judgment in case of UCB India (P) Ltd Vs ACIT reported in 121 ITD 131 wherein ITAT held that the international transaction has to be evaluated on a standalone basis. In view of the above the Ld. DRP rejected the aggregation of the transaction done by the assessee. 105.6 Further, the Ld. DRP also observed that the TPO during the assessment proceeding for AY 2007-08 computed the average rate of the ITA No.4565/Ahd/2…

The ACIT, Circle-1(2), Baroda vs. M/S. Fag Bearings India Ltd., Vadodara

ITA 551/AHD/2016[2009-10]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2009-10

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

For Appellant: Shri Milin Mehta, A.R
Section 36Section 36(1)(iv)Section 40A(2)(b)Section 40A(9)Section 92C

…d be treated as arm’s length. 105.5 However, the Ld. DRP rejected the contention of the assessee regarding the aggregation of the transactions to determine the ALP by placing the reliance on the ITAT judgment in case of UCB India (P) Ltd Vs ACIT reported in 121 ITD 131 wherein ITAT held that the international transaction has to be evaluated on a standalone basis. In view of the above the Ld. DRP rejected the aggregation of the transaction done by the assessee. 105.6 Further, the Ld. DRP also observed that the TPO during the assessment proceeding for AY 2007-08 computed the average rate of the ITA No.4565/Ahd/2…

M/S. Fag Bearings India Ltd., Baroda vs. The ACIT., Circle-1(2), (Tpo), Baroda

ITA 2061/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2008-09

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

For Appellant: Shri Milin Mehta, A.R
Section 36Section 36(1)(iv)Section 40A(2)(b)Section 40A(9)Section 92C

…d be treated as arm’s length. 105.5 However, the Ld. DRP rejected the contention of the assessee regarding the aggregation of the transactions to determine the ALP by placing the reliance on the ITAT judgment in case of UCB India (P) Ltd Vs ACIT reported in 121 ITD 131 wherein ITAT held that the international transaction has to be evaluated on a standalone basis. In view of the above the Ld. DRP rejected the aggregation of the transaction done by the assessee. 105.6 Further, the Ld. DRP also observed that the TPO during the assessment proceeding for AY 2007-08 computed the average rate of the ITA No.4565/Ahd/2…

M/S. Fag Bearings India Ltd., Baroda vs. The Dy.CIT., Circle-1(2), Baroda

ITA 1197/AHD/2012[2007-08]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2007-08

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

For Appellant: Shri Milin Mehta, A.R
Section 36Section 36(1)(iv)Section 40A(2)(b)Section 40A(9)Section 92C

…d be treated as arm’s length. 105.5 However, the Ld. DRP rejected the contention of the assessee regarding the aggregation of the transactions to determine the ALP by placing the reliance on the ITAT judgment in case of UCB India (P) Ltd Vs ACIT reported in 121 ITD 131 wherein ITAT held that the international transaction has to be evaluated on a standalone basis. In view of the above the Ld. DRP rejected the aggregation of the transaction done by the assessee. 105.6 Further, the Ld. DRP also observed that the TPO during the assessment proceeding for AY 2007-08 computed the average rate of the ITA No.4565/Ahd/2…

M/S. Fag Bearings India Ltd., Baroda vs. The CIT-I, Baroda

ITA 1453/AHD/2011[2005-06]Status: DisposedITAT Ahmedabad30 Apr 2019AY 2005-06

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

For Appellant: Shri Milin Mehta, A.R
Section 36Section 36(1)(iv)Section 40A(2)(b)Section 40A(9)Section 92C

…d be treated as arm’s length. 105.5 However, the Ld. DRP rejected the contention of the assessee regarding the aggregation of the transactions to determine the ALP by placing the reliance on the ITAT judgment in case of UCB India (P) Ltd Vs ACIT reported in 121 ITD 131 wherein ITAT held that the international transaction has to be evaluated on a standalone basis. In view of the above the Ld. DRP rejected the aggregation of the transaction done by the assessee. 105.6 Further, the Ld. DRP also observed that the TPO during the assessment proceeding for AY 2007-08 computed the average rate of the ITA No.4565/Ahd/2…

DCIT, New Delhi vs. M/S Jsl Ltd., Hisar

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 4110/DEL/2013[2007-08]Status: DisposedITAT Delhi19 Nov 2018AY 2007-08

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR
Section 92CSection 92C(2)

…e a reliable measure of an arm's length result. It would be noted that in order to apply the CUP method, the comparable uncontrolled transaction have to satisfy the strict comparability criteria. Hon‘ble ITAT in the case of UCB India (P) Ltd. vs. ACIT [2009] 30 SOT 95 [MUM] examining the test of comparability on application of CUP method held as under: ―80. ………………………….circumstances and conditions have to be evaluated………………. For pricing of a product is a very subjective exercise and is true value, as received by the receiver, can differ from that received by others in the market place. Thus, CUP method requires a…

Jindal Stainless Ltd., Hisar vs. DCIT, New Delhi

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 6337/DEL/2012[2008-09]Status: DisposedITAT Delhi19 Nov 2018AY 2008-09

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR
Section 92CSection 92C(2)

…e a reliable measure of an arm's length result. It would be noted that in order to apply the CUP method, the comparable uncontrolled transaction have to satisfy the strict comparability criteria. Hon‘ble ITAT in the case of UCB India (P) Ltd. vs. ACIT [2009] 30 SOT 95 [MUM] examining the test of comparability on application of CUP method held as under: ―80. ………………………….circumstances and conditions have to be evaluated………………. For pricing of a product is a very subjective exercise and is true value, as received by the receiver, can differ from that received by others in the market place. Thus, CUP method requires a…

At&S India Private Limited, Karnataka vs. D.C.I.T., Circle-11(1), Kolkata

In the result, appeal filed by the assessee, is allowed

ITA 69/KOL/2018[2013-14]Status: DisposedITAT Kolkata10 Oct 2018AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am At&S India Private Limited Vs. Dcit, Circle 11(1), Kolkata P-7, Chowringhee Square, 12A, Industrial Area, Nanjangud – 571 301 Kolkata – 700 069. Mysore District, Karnataka, India "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeca 2930 J (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

For Appellant: Shri Anup Sinha & Ms. Rituparna Sinha, ARFor Respondent: Shri P.K. Srihari, CIT, DR
Section 143(3)Section 144C(13)Section 37(1)Section 92C

…preferred over the other profit based methods. Reliance is placed in this regard on the following decisions: - Aztec Software & Technologies Services Ltd. v. Asstt. CIT [2007] 107 ITD 141/162 Taxman 119 (Bang.) (SB) - UCB India (P.) Ltd. v. Asstt. CIT [2009] 30 SOT 95 (Mum.) - Gharda Chemicals Ltd. v. Oy. CIT [2010] 35 SOT 406 (Mum.) - Intervet India (P.) Ltd. v. Asstt. CIT [2010] 39 SOT 93 (Mum.) - Asstt. CIT v. Dufon Laboratories [2010] 39 SOT 59 (Mum.) 11. Reliance in this regard is also placed on the decision of Hon'ble Mumbai Tribunal in the case of Serdia Pharmaceuticals (India) (P.) Ltd. v. Asstt. CIT rep…

DCIT, Circle - 11(1), Kolkata vs. M/S. J. J. Exporters Ltd., Kolkata

ITA 1372/KOL/2017[2009-10]Status: DisposedITAT Kolkata19 Sept 2018AY 2009-10

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

Section 92C

…lly Rule 10B( e) (i) to (iii) that it is only the international transaction that has to be compared with uncontrolled transaction and not the transaction undertaken by the entity as a whole. Hon'ble Mumbai ITAT in the case of UCB India (P) Ltd. V. ACIT (2009) 121 ITD 131 had held that sec, 92C read with Rule 10B(l) (e) deals with the Transactions Net Margin Method and it refers to only net profit margin realized by an enterprise from an international transaction or a class of such transactions but not operating margins of enterprises as whole. This view was re-iterated by the Hon'ble Mumbai ITAT ‘L ‘ Bench in the…

DCIT, Circle - 11(1), Kolkata vs. M/S. J. J. Exporters Ltd., Kolkata

ITA 1371/KOL/2017[2008-09]Status: DisposedITAT Kolkata19 Sept 2018AY 2008-09

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

Section 92C

…lly Rule 10B( e) (i) to (iii) that it is only the international transaction that has to be compared with uncontrolled transaction and not the transaction undertaken by the entity as a whole. Hon'ble Mumbai ITAT in the case of UCB India (P) Ltd. V. ACIT (2009) 121 ITD 131 had held that sec, 92C read with Rule 10B(l) (e) deals with the Transactions Net Margin Method and it refers to only net profit margin realized by an enterprise from an international transaction or a class of such transactions but not operating margins of enterprises as whole. This view was re-iterated by the Hon'ble Mumbai ITAT ‘L ‘ Bench in the…

The Commissioner of Income Tax vs. M/S. Toyota Kirloskar

ITA/119/2015HC Karnataka02 Aug 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 260

…oner of Income Tax & another Vs. M/s Toyota Kirloskar Auto Parts Pvt. Ltd. 11/20 and the such a payment can be determined independently. The ‘L’ bench of the Tribunal at Mumbai, in the case of UCB India(P) Ltd. vs. Ass.CIT, reported in (2009) 121 ITD 131(Mum), held that, when in an enterprise, only similar transactions are undertaken, i.e. all the transactions are of the same type, same class and of similar variety, and the enterprise does not have any other transaction which is not similar, in such a situation, the operating margins of the enterprise would be the TNMM of a class of…

Dishman Pharmaceuticals & Chemicals Limited, Ahmedabad vs. The ACIT, (OSD), Range-1, Ahmedabad

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

ITA 3086/AHD/2013[2006-07]Status: DisposedITAT Ahmedabad23 May 2018AY 2006-07

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

For Respondent: Shri R.P. Maurya, Sr.DR
Section 143(2)Section 143(3)Section 92BSection 92C

…ACIT Vs. Dishman Pharmaceuticals & Chemicals 20 to the ld.DR, the assessee ought to have adopted net transactional method instead of profit margin of enterprise as a whole. A reference to the order of the ITAT Mumbai in the case of UCB India P.Ltd. Vs. ACIT, 121 ITD 13 1(Mumbai) has been made. 11. We have gone through these submissions as well as finding of the ld.CIT(A). It is pertinent to observe that the ld.TPO in the order dated 21.10.2008 has not made any such analysis. He has not pointed out the alleged defect as contended in the written submissions. The analogy adopted by the TPO in the order passed unde…

The ACIT, (OSD)Range-1, Ahmedabad vs. M/S. Dishman Pharmaceuticals & Chemicals Ltd., Ahmedabad

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

ITA 2957/AHD/2013[2006-07]Status: DisposedITAT Ahmedabad23 May 2018AY 2006-07

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

For Respondent: Shri R.P. Maurya, Sr.DR
Section 143(2)Section 143(3)Section 92BSection 92C

…ACIT Vs. Dishman Pharmaceuticals & Chemicals 20 to the ld.DR, the assessee ought to have adopted net transactional method instead of profit margin of enterprise as a whole. A reference to the order of the ITAT Mumbai in the case of UCB India P.Ltd. Vs. ACIT, 121 ITD 13 1(Mumbai) has been made. 11. We have gone through these submissions as well as finding of the ld.CIT(A). It is pertinent to observe that the ld.TPO in the order dated 21.10.2008 has not made any such analysis. He has not pointed out the alleged defect as contended in the written submissions. The analogy adopted by the TPO in the order passed unde…

The DCIT(OSD)Range-1, Ahmedabad vs. Dishman Pharmaceuticals & Chemicals Ltd., Ahmedabad

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

ITA 817/AHD/2011[2006-07]Status: DisposedITAT Ahmedabad23 May 2018AY 2006-07

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

For Respondent: Shri R.P. Maurya, Sr.DR
Section 143(2)Section 143(3)Section 92BSection 92C

…ACIT Vs. Dishman Pharmaceuticals & Chemicals 20 to the ld.DR, the assessee ought to have adopted net transactional method instead of profit margin of enterprise as a whole. A reference to the order of the ITAT Mumbai in the case of UCB India P.Ltd. Vs. ACIT, 121 ITD 13 1(Mumbai) has been made. 11. We have gone through these submissions as well as finding of the ld.CIT(A). It is pertinent to observe that the ld.TPO in the order dated 21.10.2008 has not made any such analysis. He has not pointed out the alleged defect as contended in the written submissions. The analogy adopted by the TPO in the order passed unde…

Dishman Pharmaceuticals & Chemicals Ltd., Ahmedabad vs. The ACIT., (OSD)Range-1, Ahmedabad

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

ITA 773/AHD/2011[2006-07]Status: DisposedITAT Ahmedabad23 May 2018AY 2006-07

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

For Respondent: Shri R.P. Maurya, Sr.DR
Section 143(2)Section 143(3)Section 92BSection 92C

…ACIT Vs. Dishman Pharmaceuticals & Chemicals 20 to the ld.DR, the assessee ought to have adopted net transactional method instead of profit margin of enterprise as a whole. A reference to the order of the ITAT Mumbai in the case of UCB India P.Ltd. Vs. ACIT, 121 ITD 13 1(Mumbai) has been made. 11. We have gone through these submissions as well as finding of the ld.CIT(A). It is pertinent to observe that the ld.TPO in the order dated 21.10.2008 has not made any such analysis. He has not pointed out the alleged defect as contended in the written submissions. The analogy adopted by the TPO in the order passed unde…

The DCIT(OSD)Range-1, Ahmedabad vs. Dishman Pharmaceuticals & Chemicals Ltd., Ahmedabad

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

ITA 692/AHD/2011[2005-06]Status: DisposedITAT Ahmedabad23 May 2018AY 2005-06

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

For Respondent: Shri R.P. Maurya, Sr.DR
Section 143(2)Section 143(3)Section 92BSection 92C

…ACIT Vs. Dishman Pharmaceuticals & Chemicals 20 to the ld.DR, the assessee ought to have adopted net transactional method instead of profit margin of enterprise as a whole. A reference to the order of the ITAT Mumbai in the case of UCB India P.Ltd. Vs. ACIT, 121 ITD 13 1(Mumbai) has been made. 11. We have gone through these submissions as well as finding of the ld.CIT(A). It is pertinent to observe that the ld.TPO in the order dated 21.10.2008 has not made any such analysis. He has not pointed out the alleged defect as contended in the written submissions. The analogy adopted by the TPO in the order passed unde…

At&S India Private Limited vs. D.C.I.T., Circle-11(1), Kolkata

In the result, appeal filed by the assessee, is allowed

ITA 77/KOL/2017[2012-13]Status: DisposedITAT Kolkata11 May 2018AY 2012-13

Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.77/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13) At & S India (P) Ltd. Vs. D.C.I.T, Circle-11(1), Kolkata

For Appellant: Smt. Rituparna Sinha, ARFor Respondent: Shri G. Mallikarjuna, CIT(DR)
Section 143(3)Section 144CSection 37Section 92C

…preferred over the other profit based methods. Reliance is placed in this regard on the following decisions: - Aztec Software & Technologies Services Ltd. v. Asstt. CIT [2007] 107 ITD 141/162 Taxman 119 (Bang.) (SB) - UCB India (P.) Ltd. v. Asstt. CIT [2009] 30 SOT 95 (Mum.) - Gharda Chemicals Ltd. v. Oy. CIT [2010] 35 SOT 406 (Mum.) - Intervet India (P.) Ltd. v. Asstt. CIT [2010] 39 SOT 93 (Mum.) - Asstt. CIT v. Dufon Laboratories [2010] 39 SOT 59 (Mum.) 11. Reliance in this regard is also placed on the decision of Hon'ble Mumbai Tribunal in the case of Serdia Pharmaceuticals (India) (P.) Ltd. v. Asstt. CIT rep…

DCIT Cen Cir 2(1), Mumbai vs. Dhanera Diamonds, Mumbai

The appeal of the revenue is dismissed in terms of our aforesaid observations

ITA 6310/MUM/2016[2011-12]Status: DisposedITAT Mumbai25 Oct 2017AY 2011-12

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Asst. Cit-5(1)(2), Mumbai, M/S D. Navinchandra Exports Pvt. Ltd., बिधम/ Room No. 568, 5Th Floor, 210 Prasad Chambers, Opera House, Aaykar Bhavan, M.K. Road, Vs. Mumbai-400 004 Mumbai-400 020 स्थायी लेखा सं./जीआइआर सं./ Pan No. Aadcp6855C (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

For Appellant: NoneFor Respondent: Shri V. Jenardhanan, D.R
Section 271G

…ctions futile. The TPO in order to drive home his aforesaid view that entity level benchmarking does not lead to correct results and the same will not stand the test of Rule 10B(1)(e) relied on the orders of the Tribunal in the case of (i). UCB India Vs. ACIT 121 ITD 131 (Mum); (ii). Aztec Software & Technology Services Ltd. (2007) 107 ITD 141 (Bang) (SB) and OECD TP guidelines. Thus, the TPO in the backdrop of his aforesaid observations called upon the assessee to furnish the requisite details in terms of Sec. 92D(3). However, the assessee once again expressed its inability to furnish the requisite information f…

Asst CIT 5(1)(2), Mumbai vs. D. Navinchandra Exports P.Ltd, Mumbai

The appeal of the revenue is dismissed in terms of our aforesaid observations

ITA 6304/MUM/2016[2011-12]Status: DisposedITAT Mumbai25 Oct 2017AY 2011-12

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Asst. Cit-5(1)(2), Mumbai, M/S D. Navinchandra Exports Pvt. Ltd., बिधम/ Room No. 568, 5Th Floor, 210 Prasad Chambers, Opera House, Aaykar Bhavan, M.K. Road, Vs. Mumbai-400 004 Mumbai-400 020 स्थायी लेखा सं./जीआइआर सं./ Pan No. Aadcp6855C (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

For Appellant: NoneFor Respondent: Shri V. Jenardhanan, D.R
Section 271G

…ctions futile. The TPO in order to drive home his aforesaid view that entity level benchmarking does not lead to correct results and the same will not stand the test of Rule 10B(1)(e) relied on the orders of the Tribunal in the case of (i). UCB India Vs. ACIT 121 ITD 131 (Mum); (ii). Aztec Software & Technology Services Ltd. (2007) 107 ITD 141 (Bang) (SB) and OECD TP guidelines. Thus, the TPO in the backdrop of his aforesaid observations called upon the assessee to furnish the requisite details in terms of Sec. 92D(3). However, the assessee once again expressed its inability to furnish the requisite information f…