← All Phrases

“most appropriate method”

Transfer PricingSection 92CSection 92C1,345 judgments

The decision most relied on for most appropriate method is CIT v. Cushman & Wakefield (India) (P.) Ltd. (367 ITR 730), cited in 120 judgments on BharatTax.

Leading authorities on most appropriate method

CIT v. Cushman & Wakefield (India) (P.) Ltd.
367 ITR 730 · 2014 · High Court
120
citing judgments

This case determines the Arm's Length Price (ALP) for intra-group services and reimbursements, clarifying when charges constitute services warranting a mark-up versus mere pass-through costs. It provides guidance on the circumstances under which an ALP adjustment, including an ALP of 'nil', is appropriate for such transactions.

Dresser-Rand India (P.) Ltd. v. Addl. CIT
13 Taxmann.com 82 · 2011 · High Court
43
citing judgments

An Assessing Officer cannot disregard an assessee's decision to avail services from associated enterprises, even if the assessee has internal expertise, as the determination of necessity is the assessee's prerogative. The Transfer Pricing Officer's role is to determine the arm's length price, not the need for the service itself.

CIT v. EHPT India P Ltd.
350 ITR 41 · 2013 · High Court
41
citing judgments

The headcount method is an appropriate allocation key for indirect expenses between eligible and non-eligible units when it has been consistently accepted by revenue authorities and there is no just cause for abandoning it. Deviation from a consistently followed and accepted method can disturb or distort profits.

Mobis India Ltd. v. Dy. CIT
38 Taxmann.com 231 · 2013 · ITAT
38
citing judgments

A working capital adjustment is unreliable if it is based on broad approximations, estimations, and assumptions, and the assessee fails to demonstrate how the adjustment was arrived at.

LG Electronics India Pvt. Ltd. v. ACIT
29 Taxmann.com 300 · 2013 · High Court
37
citing judgments

The 'bright line test' is not an appropriate method for determining the existence of an international transaction for calculating arm's length price. This ruling overrules prior special bench decisions on AMP expenses.

Magneti Marelli Powertrain India Pvt. Ltd. v. DCIT
389 ITR 469 · 2016 · High Court
35
citing judgments

The Assessing Officer (AO) or Transfer Pricing Officer (TPO) cannot dispute the application of the TNMM method if they have already accepted it as the most appropriate method for certain international transactions, especially when other transactions are intrinsically linked.

Skoda Auto India (P) Ltd. v. ACIT, Aurangabad
30 SOT 319 · 2009 · ITAT
26
citing judgments

The Tribunal may allow adjustments for differences between the tested party and comparable companies to eliminate material differences, provided accurate and credible evidence is furnished.

Principal Commissioner of Income-tax-6 v. Matrix Cellular International Services (P.) Ltd.
90 Taxmann.com 54 · 2018 · High Court
25
citing judgments

The Resale Price Method (RPM) is the most appropriate method for determining the arm's length price of a distributor who does not add significant value to the goods purchased.

Judgments citing most appropriate method

Hetero Labs Limited, Hyderabad vs. ACIT, Central Circle-3(4), Hyderabad

In the result, the appeal of Revenue in ITA No

ITA 313/HYD/2023[2018-19]Status: DisposedITAT Hyderabad21 May 2024AY 2018-19

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita Nos.312 & 313/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2017-18 & 2018-19) Hetero Labs Limited, Vs. The Assistant Commissioner Of Hyderabad. Income Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent आ.अपी.सं / Ita Nos.348 & 349/Hyd/2023 (िनधा"रण वष" / Assessment Years: 2017-18 & 2-18-19) The Assistant Vs. Hetero Labs Limited, Commissioner Of Income Hyderabad. Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent

For Appellant: Shri D. Prabhakar Reddy, AdvocateFor Respondent: Shri M.Vijay Kumar, CIT-DR
Section 143(3)

follows, Page 9 of 82 "For the determination the ALP of the. Fee on the corporate Guarantee, the TPO chose 'CUP' as the most appropriate method as other methods are not applicable for this transaction. The following facts were considered to determine the ALP of transaction. i) When the assessee

Hetero Labs Limited, Hyderabad vs. ACIT, Central Circle-3(4), Hyderabad

In the result, the appeal of Revenue in ITA No

ITA 312/HYD/2023[2017-18]Status: DisposedITAT Hyderabad21 May 2024AY 2017-18

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita Nos.312 & 313/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2017-18 & 2018-19) Hetero Labs Limited, Vs. The Assistant Commissioner Of Hyderabad. Income Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent आ.अपी.सं / Ita Nos.348 & 349/Hyd/2023 (िनधा"रण वष" / Assessment Years: 2017-18 & 2-18-19) The Assistant Vs. Hetero Labs Limited, Commissioner Of Income Hyderabad. Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent

For Appellant: Shri D. Prabhakar Reddy, AdvocateFor Respondent: Shri M.Vijay Kumar, CIT-DR
Section 143(3)

follows, Page 9 of 82 "For the determination the ALP of the. Fee on the corporate Guarantee, the TPO chose 'CUP' as the most appropriate method as other methods are not applicable for this transaction. The following facts were considered to determine the ALP of transaction. i) When the assessee

Imerys Ceramics India Private Limited, Hyderabad vs. DCIT Circle -2(1), Hyderabad

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

ITA 494/HYD/2022[2018-19]Status: DisposedITAT Hyderabad21 May 2024AY 2018-19

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Chary

For Appellant: Shri Mithilesh Sai, ARFor Respondent: Ms. TH Vijaya Lakshmi, CIT-DR
Section 143(3)

grounds, except grounds relating to the issues of non-consideration of segmental information, non- consideration of TNMM (Transactional Net Margin Method) as MAM (Most Appropriate Method) for transactions related to manufacturing segment, non-consideration of RPM as MAM for transactions relating to trading segment, challenging the comparables selected ... material from AEs for further processing, purchase of goods and sale of goods and, therefore, TNMM at the entity level is the appropriate method. Learned DRP concurred with the reasoning of the learned TPO. According to the learned DRP, though the assessee has purchases and sales with both

Vodafone India Ltd, Mumbai vs. Asst CIT 8(3)(2), Mumbai

ITA 884/MUM/2016[2011-12]Status: DisposedITAT Mumbai17 May 2024AY 2011-12
Section 115JSection 143(3)Section 144C(13)Section 144C(5)Section 14ASection 234DSection 271(1)(c)Section 36(1)(iii)Section 37Section 40

IN THE INCOME TAX APPELLATE TRIBUNAL "I" BENCH, MUMBAI SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER

Kennametal India Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle-4(3)(1), Bangalore

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

ITA 506/BANG/2022[2017-18]Status: DisposedITAT Bangalore15 May 2024AY 2017-18

Bench: Shri Chandra Poojari & Shri Keshav Dubey

For Appellant: Shri T. Suryanarayana, Sr. A.RFor Respondent: Ms. Neera Malhotra, D.R
Section 143(3)Section 92C

made some adjustment in the comparables furnished by the assessee. In these circumstances, the basic issue before us is what can be the most appropriate method to determine the ALP for the transactions carried out by the assessee with the AE. It is found that the assessee was getting rough

Tech Mahindra Buisness Services Ltd, Mumbai vs. Asst CIT Cir 13(3)(2), Mumbai

In the result, appeal of the Revenue is dismissed

ITA 521/MUM/2015[2010-11]Status: DisposedITAT Mumbai14 May 2024AY 2010-11

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

Section 143(3)Section 144C(13)Section 92C

submitted that the assessee to benchmark Arms’s Length Price (ALP) of international transactions adopted Transactional Net Margin Method (TNNM) as the most appropriate method. The assessee identified five companies as comparables. The assessee’s OP/OC is 9.70%. The arithmetic mean of comparables selected by the assessee ... accepted TNNM as the most appropriate method but did not agree with the list of comparable companies selected by the assessee. The TPO selected fresh comparables and excluded some of the comparables selected by the assessee. The final set of comparables considered by the TPO are as under :- Sr.No. Name

DCIT 13(3)(2), Mumbai vs. Tech Mahindra Business Services Ltd, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 1126/MUM/2015[2010-11]Status: DisposedITAT Mumbai14 May 2024AY 2010-11

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

Section 143(3)Section 144C(13)Section 92C

submitted that the assessee to benchmark Arms’s Length Price (ALP) of international transactions adopted Transactional Net Margin Method (TNNM) as the most appropriate method. The assessee identified five companies as comparables. The assessee’s OP/OC is 9.70%. The arithmetic mean of comparables selected by the assessee ... accepted TNNM as the most appropriate method but did not agree with the list of comparable companies selected by the assessee. The TPO selected fresh comparables and excluded some of the comparables selected by the assessee. The final set of comparables considered by the TPO are as under :- Sr.No. Name

Skaps Industries India Pvt. Ltd., Ahmedabad vs. The Deputy Commissioner of Income Tax, Circle-8, Ahmedabad

In the result, appeal of the assessee is partly allowed for statistical purpose

ITA 595/AHD/2017[2010-11]Status: DisposedITAT Ahmedabad08 May 2024AY 2010-11

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2010-11

Section 10BSection 142(1)Section 143(2)Section 14ASection 35DSection 35D(2)Section 43BSection 92Section 92C

confirming addition of Rs.2,42,26,184/- made by Ld. TPO u/s.92CA(3) of the Act by affirming TPO's action of rejecting most appropriate method (MAM) adopted by the appellant ignoring submissions of the appellant. 4. Ld. CIT (A) erred in holding that TPO has rightly rejected CUP method ... made by the Transfer Pricing Officer (TPO) under Section 92CA(3) of the Act by affirming TPO’s action of rejecting most appropriate method (MAM) adopted by the assessee while totally ignoring the submissions of the assessee. The Ld. AR submitted that the rejection of CUP method for benchmarking purchase

Deputy Commissioner of Income Tax-9(2)(1), Mumbai vs. Bunge India Private Limited, Mumbai

In the result, appeals of the Revenue are dismissed and Cross Objections of the assessee are allowed

ITA 4781/MUM/2017[2011-12]Status: DisposedITAT Mumbai08 May 2024AY 2011-12

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

Section 143(3)Section 92CSection 92C(2)

short here is, whether adjustment should be applied on international transaction only or at entity level even if TNMM is treated as Most Appropriate Method. In cross objection the assessee has stated that benefit of proviso to Section 92C(2) (+/-) 5% shall be given when that is taken into consideration ... observed that in the earlier years CUP method has been rejected and TNMM has been M/s. Bunge India Pvt. Ltd. applied as Most Appropriate Method and accordingly, the ld. TPO by taking external comparables under TNMM made upward adjustment of Rs.40,46,74,637/- in the A.Y.2010-11 and Rs.10

Deputy Commissioner of Income Tax-9(2)(1), Mumbai vs. Bunge India Private Limited, Mumbai

In the result, appeals of the Revenue are dismissed and Cross Objections of the assessee are allowed

ITA 4780/MUM/2017[2010-11]Status: DisposedITAT Mumbai08 May 2024AY 2010-11

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

Section 143(3)Section 92CSection 92C(2)

short here is, whether adjustment should be applied on international transaction only or at entity level even if TNMM is treated as Most Appropriate Method. In cross objection the assessee has stated that benefit of proviso to Section 92C(2) (+/-) 5% shall be given when that is taken into consideration ... observed that in the earlier years CUP method has been rejected and TNMM has been M/s. Bunge India Pvt. Ltd. applied as Most Appropriate Method and accordingly, the ld. TPO by taking external comparables under TNMM made upward adjustment of Rs.40,46,74,637/- in the A.Y.2010-11 and Rs.10

Th Boston Consulting Group (India) P. Ltd, Mumbai vs. DCIT Cir 3(3)(2), Mumbai

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

ITA 1401/MUM/2016[2011-12]Status: DisposedITAT Mumbai03 May 2024AY 2011-12

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sunil Kumar Singh, Hon'Blethe Boston Consulting Group (India) V. Dcit – Circle - 3(3)(2) Private Limited Aayakar Bhavan, M.K. Road 14Th Floor, Nariman Bhavan Mumbai - 400020 227, Nariman Point Mumbai - 400021 Pan: Aabcb3524G (Appellant) (Respondent) Assessee Represented By : Shri J.D. Mistri, Shri Pratik Shah & Ms. Riddhi Maru Department Represented By : Shri Udoal Raj Singh

Section 143(3)Section 234BSection 234DSection 244ASection 271(1)

Officer formed a belief that the assessee has failed to substantiate applicability of CUP and rejected the same and applied TNMM as the most appropriate method. The reasons for rejecting CUP given by the Transfer Pricing Officer are: - a. No AE documents are on fixed payment basis. b. No hourly ... Rates mentioned in AE documents do not match with the TPSR rates. e. CUP needs stringent comparability. 8. Applying TNMM as the most appropriate method, Transfer Pricing Officer selected following comparables, a) ICRA management Consulting Page No. 7 The Boston Consulting Group (India) Private Limited Services Ltd., b) eClerx Services

Mankind Pharma Limited, Delhi vs. DCIT, Circle-1(1)(1), Meerut

In the result, the additional Ground No

ITA 2313/DEL/2022[2018-19]Status: DisposedITAT Delhi01 May 2024AY 2018-19

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

For Appellant: Shri Gaurav Jain, AdvFor Respondent: Shri Rajesh Kumar, CIT (DR)
Section 143(3)Section 144BSection 144C(13)Section 153(3)Section 270ASection 35Section 80GSection 80I

assessee did not separately benchmark the SDTs entered into by the eligible units with the AEs of the assessee-company with any specific most appropriate method but conducted entity level comparison of OP/OR of the assessee-company as a whole and compared it with the operating margins of other comparable ... Rosoboronservices India Ltd. vs. DCIT, ITA No.7255/MUM/2018. It was contended that in any event CUP is most direct and reliable method and thus most appropriate method for determination of ALP where reasonably comparable data are available. 23. We have heard the rival submissions in length and perused the relevant order

DCIT 2(2)(2), Mumbai vs. The Hongkong and Shanghai Banking Corp Ltd, Mumbai

In the result, assessee’s appeals are allowed wherein

ITA 4786/MUM/2016[2005-06]Status: DisposedITAT Mumbai30 Apr 2024AY 2005-06

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

Section 10(15)(iv)Section 10(34)Section 143(3)Section 14A

unilateral one-way adjustment. The Ld. TPO rejected the Assessee's arguments and adopted the Transactional Net Margin Method ('TNMM') as the most appropriate method. While applying TNMM, the TPO aggregated the entire direct and indirect cost of the correspondent banking department of the Assessee along with Head office ... considered the liaison and coordination at the group level as separate international transactions. The Ld. TPO adopted TNMM as the most appropriate method to benchmark this transaction. Based on proportionate time spent, the Ld. TPO aggregated proportionate direct and indirect costs along with HO expenses to compute the cost base

The Hong Kong & Shanghai Banking Corporation Ltd., Mumbai vs. Jt. Director of Income Tax (International Taxation) - Range -3, Mumbai

In the result, assessee’s appeals are allowed wherein

ITA 4765/MUM/2016[2005-06]Status: DisposedITAT Mumbai30 Apr 2024AY 2005-06

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

Section 10(15)(iv)Section 10(34)Section 143(3)Section 14A

unilateral one-way adjustment. The Ld. TPO rejected the Assessee's arguments and adopted the Transactional Net Margin Method ('TNMM') as the most appropriate method. While applying TNMM, the TPO aggregated the entire direct and indirect cost of the correspondent banking department of the Assessee along with Head office ... considered the liaison and coordination at the group level as separate international transactions. The Ld. TPO adopted TNMM as the most appropriate method to benchmark this transaction. Based on proportionate time spent, the Ld. TPO aggregated proportionate direct and indirect costs along with HO expenses to compute the cost base

DDIT (It) 3(1), Mumbai vs. Hongkong & Sanghai Banking Corporation Ltd, Mumbai

In the result, assessee’s appeals are allowed wherein

ITA 7824/MUM/2010[2004-05]Status: DisposedITAT Mumbai30 Apr 2024AY 2004-05

Bench: IN THE INCOME TAX APPELLATE TRIBUNAL, ‘H’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA (Judicial Member), SHRI GAGAN GOYAL, ACCOUNTANT MEMBER ITA No.7336/Mum/2010 (Assessment Year :2004-05) & ITA No.4765/Mum/2016 (Assessment Year :2005-06) The Hongkong & Shanghai Banking Corporation Ltd. Srnior Vice President Tax, India Area Management 5th Floor, Hongkong Bank Building, 52/60, MG Road Fort, Mumbai – 400 001 (Appellant) Vs. The Joint Director of Income Tax (International Taxation)-3, Mumbai 1st Flo

Section 10(15)(iv)Section 10(34)Section 143(3)Section 14A

unilateral one-way adjustment. The Ld. TPO rejected the Assessee's arguments and adopted the Transactional Net Margin Method ('TNMM') as the most appropriate method. While applying TNMM, the TPO aggregated the entire direct and indirect cost of the correspondent banking department of the Assessee along with Head office ... considered the liaison and coordination at the group level as separate international transactions. The Ld. TPO adopted TNMM as the most appropriate method to benchmark this transaction. Based on proportionate time spent, the Ld. TPO aggregated proportionate direct and indirect costs along with HO expenses to compute the cost base

The Hongkong & Shanghai Banking Corporation Ltd, Mumbai vs. DDIT (It) 3(1), Mumbai

In the result, assessee’s appeals are allowed wherein

ITA 7336/MUM/2010[2004-05]Status: DisposedITAT Mumbai30 Apr 2024AY 2004-05

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GAGAN GOYAL, ACCOUNTANT MEMBER & The Hongkong & Shanghai Banking Corporation Ltd. Srnior (Vice President)

Section 10(15)(iv)Section 10(34)Section 143(3)Section 14A

unilateral one-way adjustment. The Ld. TPO rejected the Assessee's arguments and adopted the Transactional Net Margin Method ('TNMM') as the most appropriate method. While applying TNMM, the TPO aggregated the entire direct and indirect cost of the correspondent banking department of the Assessee along with Head office ... considered the liaison and coordination at the group level as separate international transactions. The Ld. TPO adopted TNMM as the most appropriate method to benchmark this transaction. Based on proportionate time spent, the Ld. TPO aggregated proportionate direct and indirect costs along with HO expenses to compute the cost base

M/S. Atul Ltd., Ahmedabad vs. The Dy.CIT, Circle-1(1)(2), Ahmedabad

The appeal of the assessee is partly allowed in the above terms for statistical purpose

ITA 446/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad26 Apr 2024AY 2010-11

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarit(Tp)A No.446/Ahd/2015 Assessment Year : 2010-11 M/S.Atul Limited Dcit, Cir.1(1)(2) Atul House Vs Ahmedabad. Gi Patel Marg Ahmedabad 380 014. Pan : Aabca 2390 M

For Appellant: Shri S.N. Soparkar, Sr.Advocate &For Respondent: Dr.Darsi Suman Ratnam, CIT-DR
Section 143(3)Section 144Section 92C

ought to have quashed application of two methods by TPO and ought to have confirmed TNMM method selected by the appellant as the most appropriate method to determine the arms length nature of international transactions. 3. Ld. DRP erred in rejecting objection to division wise comparability ... issued a detailed show cause notice questioning the assessees benchmarking of the transaction and stating that CUP is to be used as the most appropriate method. The TPO thereafter applied CUP wherever details were available and where external CUP IT(TP)A No.446/Ahd/2015 5 could be found. For the remaining

Culver Max Entertainment Private Lmited ( Formerly Sony Pictures Networks India Pvt. Ltd. (Successor of Taj Television India Pvt. Ltd.), Mumbai vs. ACIT, Circle- 16 (1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 7210/MUM/2019[2011-12]Status: DisposedITAT Mumbai26 Apr 2024AY 2011-12

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm M/S Sony Pictures Networks Asst. Commissioner Of India Private Limited Income-Tax, (Successor Of Taj Television Circle 16(1) India Private Limited) Aaykar Bhavan, Vs. Interface 7, 4Th Floor, Off Malad Room No. 467, Link Road, Malad (W), M.K. Marg, Mumbai-400 020 Mumbai-400 064 (Appellant) (Respondent) Pan No. Aabct5103D Assessee By : Shri Fenil Bhatt, Ar Revenue By : Shri B.K. Bagchi, Dr Date Of Hearing: 01.02.2024 Date Of Pronouncement : 26.04.2024

For Appellant: Shri Fenil Bhatt, ARFor Respondent: Shri B.K. Bagchi, DR
Section 143(3)Section 144C

distribution revenue sharing arrangement. The regulations provide that the transaction is to be determined to be at ALP using any one of the most appropriate methods as prescribed. Wherein a corroborative method along- with the primary is applied by the Appellant to determine the ALP, it simply means that ... also retained 10% commission and the international transaction is at Arm’s Length. Thus, the assessee has submitted that CUP is the most appropriate method for benchmarking its distribution activity by comparing the similar transaction by Associated Enterprises with Pakistan and Nepal entities. 08. On examination, the learned Transfer Pricing

Axis Bank Limited, Ahmedabad vs. Assistant Commissioner of Income Tax, Circle-1(1)(1), Ahmedabad

The appeal of the assessee is partly allowed for statistical purposes

ITA 365/AHD/2022[2018-19]Status: DisposedITAT Ahmedabad10 Apr 2024AY 2018-19

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarिनधा"रण वष"/Assessment Year: 2018-19 Axis Bank Limited, Vs. Assistant Commissioner Of “Trishul”, 3Rd Floor, Opp. Income-Tax, Samartheshwar Temple, Nr. Law Circle 1(1)(1), Garden, Ellisbridge, Ahmedabad Ahmedabad-380006 Pan : Aaacu 2414 K अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri Tushar Hemani, Sr. Advocate & Shri Parimalsinh B. Parmar, Ar Revenue By : Dr. Darsi Suman Ratnam, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 29.11.2023/03.04.2024 घोषणा क" तारीख /Date Of Pronouncement: 10.04.2024 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta: By Way Of This Appeal, The Assessee-Appellant Has Challenged Correctness Of The Order Dated 28Th July, 2022 Passed By The Assessing Officer Under Section 143(3) R.W.S. 144C(13) R.W.S. 144B Of The Income Tax Act, 1961 [Hereinafter Referred To As “The Act” For Short], For The Assessment Year (Ay) 2018-19. 2. Ground No.1 Raised By The Assessee Reads As Under:- “1. Disallowance In Respect Of Annual Technical Fees (Tax Effect - Rs. 16,84,276) 1.1 The Learned Drp Has Erred In Upholding Addition Made By Ao In Respect Of Treating Annual Technical Services (Ats) Fees Paid To Infosys Limited To The Extent Of Rs. 48.66 Lacs As Prior Period Expense. 1.2. It Is Submitted That The Expenditure Relates To Amount Payable To Infosys & No Part Of The Amount Was Claimed As Expenditure At Any Time In The 2 Axis Bank Limited Vs. Acit Ay : 2018-19

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR
Section 143(3)Section 144C

making transfer pricing adjustment of Rs.73,94,337 by rejecting the benchmark conducted by the Bank using Other Method as the most appropriate method with respect to international transaction of interest received from AE on the tier II loan of USD 25 million provided to it and applying an arbitrary ... appeal raised by revenue are dismissed.” • Indian Hotels Company Ltd. Vs. DCIT [2019] 112 taxmann.com 340 (Mumbai - Trib.) TRANSFER PRICING: CUP method is most appropriate method to determine arm's length rate of interest of international transaction involving lending of money by assessee in foreign currency

Ups Jetair Express Private Limited, Mumbai vs. ACIT - 11(1)(2), Mumbai

Appeal are dismissed, the ground no

ITA 1622/MUM/2015[2010-11]Status: DisposedITAT Mumbai08 Apr 2024AY 2010-11

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआ.अ.सं.1622/मुं/2015 (नि.व. 2010-11)

For Appellant: Shri Nitesh Joshi, AdvocateFor Respondent: Shri Rignesh Das, Sr. DR
Section 144C(1)Section 234BSection 32Section 40

Assessment Year 2013-14 was the same as is in impugned Assessment Year. The Assessee applied Transaction Net Margin Method (TNMM), as the most appropriate method to benchmark the transaction. The TPO rejected the same and held the ALP to be 'NIL'. The ld. AR referred to the findings