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“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

Dimexon Diamonds Ltd, Mumbai vs. ACIT Cent. Cir 1(4), Mumbai

ITA 2429/MUM/2022[2018-19]Status: DisposedITAT Mumbai30 Jan 2024AY 2018-19

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri Rajesh SimhanFor Respondent: Shri H. M. Bhatt
Section 143(3)Section 144C(13)Section 144C(5)Section 92C(3)

abundant caution, it benchmarked the aforesaid international transaction considering the report of the third-party valuer by adopting "other method" as the most appropriate method. By considering the value determined by the third-party valuer as the fair market value, the assessee claimed that the aforesaid international transaction undertaken ... evident from the record, the assessee benchmarked the transaction of payment of merger consideration by adopting “other method" as the most appropriate method. Rule 10AB of the Income Tax Rules, 1962, deals with "other method" for computation of arm's length price and the same reads as under: “10AB

Ingram Micro India Ssc P. Ltd., Mumbai vs. Dy CIT, Range-14(1)(1) (Jurisdictional Asssessing Oficer), Mumbai

Appeal of the assessee is partly allowed

ITA 1320/MUM/2021[2016-17]Status: DisposedITAT Mumbai29 Jan 2024AY 2016-17

Bench: Us, The Ld. Counsel For The Assessee, Shri Ajit Kumar Jain Mentioned That He Is Pressing Only Grounds Number 2(G) Which Pertains To Inclusion Of Certain Companies By The Tpo Which Are Not Functionally Comparable. Therefore, We Are Not Elaborating On Any Other Issue. The Facts Pertaining To The Ground 2(G) As Culled Out From The Records Are Narrated Below. Other Grounds Raised Are Dismissed As Not Pressed.

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

order, the assessee has earned a markup of 15% on the cost. The assessee has used Transactional Net Margin Method (TNMM) as the most appropriate method to benchmark its international transaction with OP/OC as the PLI. The assessee has selected 6 comparables with a median of 12%. Ld. TPO rejected

Bank of Nova Scotia, Mumbai vs. Addl DIT (It) RG 3, Mumbai

ITA 4980/MUM/2017[2009-10]Status: DisposedITAT Mumbai29 Jan 2024AY 2009-10

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

For Appellant: Nishant Thakkar &For Respondent: Anil Sant
Section 143(2)Section 14ASection 92C(2)

Page 1 11 Appeals The Bank of Novascotia Vs. ADIT(IT) 3(2) IN THE INCOME TAX APPELLATE TRIBUNAL “I

DCIT (It) -1(2)(1), Mumbai vs. The Bank of Nova Scotia, Mumbai

Appeal of the assessee is allowed

ITA 4898/MUM/2017[2009-10]Status: DisposedITAT Mumbai29 Jan 2024AY 2009-10

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

For Appellant: Nishant Thakkar &For Respondent: Anil Sant
Section 143(2)Section 14ASection 92C(2)

Page 1 11 Appeals The Bank of Novascotia Vs. ADIT(IT) 3(2) IN THE INCOME TAX APPELLATE TRIBUNAL “I

The Bank of Nova Scotia, Mumbai vs. Addl DIT (It) RG 3, Mumbai

ITA 3862/MUM/2013[2008-09]Status: DisposedITAT Mumbai29 Jan 2024AY 2008-09

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

For Appellant: Nishant Thakkar &For Respondent: Anil Sant
Section 143(2)Section 14ASection 92C(2)

Page 1 11 Appeals The Bank of Novascotia Vs. ADIT(IT) 3(2) IN THE INCOME TAX APPELLATE TRIBUNAL “I

DDIT (It) 3(2), Mumbai vs. The Bank of Nova Scotia, Mumbai

In the result, the appeals of the assessee are partly allowed and appeals of the revenue are also partly allowed

ITA 3828/MUM/2013[2008-09]Status: DisposedITAT Mumbai29 Jan 2024AY 2008-09

Bench: Shri Vikas Awasthy & Shri Amarjit Singhita No.8841/Mum/2010 The Bank Of Nova Scotia Vs. Assistant Director Of Mittal Towers, B Wing Income Tax (It) -3(2) Nariman Point Scindia House Mumbai – 400 020 Ballard Pier Mumbai – 400 038 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacb1536H Appellant .. Respondent It(Tp)A. No.3862/Mum/2013 The Bank Of Nova Scotia Vs. Additional Director Of Mittal Towers, B Wing Income Tax (It) -3 Nariman Point Air India Building Mumbai – 400 020 Nariman Point Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb1536H Appellant .. Respondent Ita.No.3989/Mum/2012 Deputy Director Of Income Vs. M/S The Bank Of Nova Tax (It) -3(2) Scotia, Mittal Towers, B Scindia House Wing, Nariman Point Ballard Pier, N. M. Road Mumbai – 400 021 Mumbai – 400 038

For Appellant: Nishant Thakkar &For Respondent: Anil Sant
Section 143(2)Section 14ASection 92C(2)

cost and same cannot be compared with the local guarantee given by the bank. The ld. Counsel further submitted that TNMM is the most appropriate method and TPO has determined the arm’s length price without rejecting the TNMM. The ld. Counsel also submitted that CUP method is not applicable ... method was not available and data margins under TNMM was readily available and held that it would be appropriate to apply TNMM as most appropriate method. In the aforesaid decision it is held that TNMM method would be the most appropriate method in the facts and circumstances of the case

The Bank of Nova Scotia, Mumbai vs. Addl CIT (It) 3, Mumbai

ITA 4036/MUM/2012[2007-08]Status: DisposedITAT Mumbai29 Jan 2024AY 2007-08

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

For Appellant: Nishant Thakkar &For Respondent: Anil Sant
Section 143(2)Section 14ASection 92C(2)

Page 1 11 Appeals The Bank of Novascotia Vs. ADIT(IT) 3(2) IN THE INCOME TAX APPELLATE TRIBUNAL “I

ADIT Cir 3(2), Mumbai vs. The Bank of Nova Scotia, Mumbai

ITA 3989/MUM/2012[2007-08]Status: DisposedITAT Mumbai29 Jan 2024AY 2007-08

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

For Appellant: Nishant Thakkar &For Respondent: Anil Sant
Section 143(2)Section 14ASection 92C(2)

Page 1 11 Appeals The Bank of Novascotia Vs. ADIT(IT) 3(2) IN THE INCOME TAX APPELLATE TRIBUNAL “I

The Bank of Nova Scotia, Mumbai vs. ADIT (It) 3(2), Mumbai

ITA 5740/MUM/2011[2005-06]Status: DisposedITAT Mumbai29 Jan 2024AY 2005-06

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

For Appellant: Nishant Thakkar &For Respondent: Anil Sant
Section 143(2)Section 14ASection 92C(2)

Page 1 11 Appeals The Bank of Novascotia Vs. ADIT(IT) 3(2) IN THE INCOME TAX APPELLATE TRIBUNAL “I

ADIT (It) 3(2), Mumbai vs. The Bank Nova Scotia, Mumbai

Appeal of the assessee is allowed

ITA 5634/MUM/2011[2005-06]Status: DisposedITAT Mumbai29 Jan 2024AY 2005-06

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

For Appellant: Nishant Thakkar &For Respondent: Anil Sant
Section 143(2)Section 14ASection 92C(2)

Page 1 11 Appeals The Bank of Novascotia Vs. ADIT(IT) 3(2) IN THE INCOME TAX APPELLATE TRIBUNAL “I

The Bank of Nova Scotia, Mumbai vs. ADIT (It) 3(2), Mumbai

In the result, the appeals of the assessee are partly allowed and

ITA 8841/MUM/2010[2006-07]Status: DisposedITAT Mumbai29 Jan 2024AY 2006-07

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

For Appellant: Nishant Thakkar &For Respondent: Anil Sant
Section 143(2)Section 14ASection 92C(2)

cost and same cannot be compared with the local guarantee given by the bank. The ld. Counsel further submitted that TNMM is the most appropriate method and TPO has determined the arm's length price without rejecting the TNMM. The ld. Counsel also submitted that CUP method is not applicable ... method was not available and data margins under TNMM was readily available and held that it would be appropriate to apply TNMM as most appropriate method. In the aforesaid decision it is held that TNMM method would be the most appropriate method in the facts and circumstances of the case

The ADIT (It)-3(2), Mumbai vs. M/S. the Bank of Novascotia, Mumbai

Appeal of the assessee is allowed

ITA 4655/MUM/2007[2003-2004]Status: DisposedITAT Mumbai29 Jan 2024AY 2003-2004

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

For Appellant: Nishant Thakkar &For Respondent: Anil Sant
Section 143(2)Section 14ASection 92C(2)

Page 1 11 Appeals The Bank of Novascotia Vs. ADIT(IT) 3(2) IN THE INCOME TAX APPELLATE TRIBUNAL “I

Schott Glass India P.Ltd, Mumbai vs. ITO 8(3)(1), Mumbai

In the result, ITA 7356/Mum/2014 of the appeals of the assessee are allowed for statistical purpose and ITA No

ITA 7356/MUM/2014[2007-08]Status: DisposedITAT Mumbai24 Jan 2024AY 2007-08

Bench: Shri Narender Kumar Choudhry & Shri Amarjit Singhschott Glass India Private Vs. Income Tax Officer 8(3)-1 Limited, Dynasty “A” Wing Room No. 201, Aayakar 303/304, 3Rd Floor, Bhavan, M.K. Road, Andheri Kurla Road, Mumbai – 400020 Andheri (E) Mumbai – 400 059 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aadcs8583L Appellant .. Respondent Schott Glass India Private Vs. Deputy Commissioner Of Limited, Dynasty “A” Wing Income Tax 8(3) 303/304, 3Rd Floor, Room No. 204, Aayakar Andheri Kurla Road, Bhavan, M.K. Road, Andheri (E) Mumbai – 400020 Mumbai – 400 059 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aadcs8583L Appellant .. Respondent Appellant By : Ketan Ved Respondent By : Mahesh Jiwade Date Of Hearing 12.12.2023 Date Of Pronouncement 24.01.2024 आदेश / O R D E R Per Amarjit Singh (Am): Both These Appeals Filed By The Assessee Are Directed Agasint The Different Orders Of Ld. Cit(A)-15, Mumbai. Since Both These Appeals

For Appellant: Ketan VedFor Respondent: Mahesh Jiwade
Section 143(2)Section 144C(1)Section 92C

excess depreciation, foreign exchange fluctuation and under utilized capacity. The assessee has selected only one comparable i.e Triveni Glass Ltd. and the most appropriate method used by the assessee for benchmarking its international transaction was TNMM and profit level indicator used was operating profit/sales. The TPO has also considered ... acceptable. 9. Heard both the sides and perused the material on record. The assessee has benchmarked its international transactions following TNMM as most appropriate method. The TPO has not agreed with the assessee for making economic adjustment on account of excess depreciation, foreign exchange fluctuation and under utilized capacity

Schott Glass India Pvt. Ltd., Mumbai vs. D.C.I.T. Circle 8(3), Mumbai

In the result, ITA 7356/Mum/2014 of the appeals of the assessee are allowed for statistical purpose and ITA No

ITA 2594/MUM/2012[2007-08]Status: DisposedITAT Mumbai24 Jan 2024AY 2007-08

Bench: Shri Narender Kumar Choudhry & Shri Amarjit Singhschott Glass India Private Vs. Income Tax Officer 8(3)-1 Limited, Dynasty “A” Wing Room No. 201, Aayakar 303/304, 3Rd Floor, Bhavan, M.K. Road, Andheri Kurla Road, Mumbai – 400020 Andheri (E) Mumbai – 400 059 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aadcs8583L Appellant .. Respondent Schott Glass India Private Vs. Deputy Commissioner Of Limited, Dynasty “A” Wing Income Tax 8(3) 303/304, 3Rd Floor, Room No. 204, Aayakar Andheri Kurla Road, Bhavan, M.K. Road, Andheri (E) Mumbai – 400020 Mumbai – 400 059 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aadcs8583L Appellant .. Respondent Appellant By : Ketan Ved Respondent By : Mahesh Jiwade Date Of Hearing 12.12.2023 Date Of Pronouncement 24.01.2024 आदेश / O R D E R Per Amarjit Singh (Am): Both These Appeals Filed By The Assessee Are Directed Agasint The Different Orders Of Ld. Cit(A)-15, Mumbai. Since Both These Appeals

For Appellant: Ketan VedFor Respondent: Mahesh Jiwade
Section 143(2)Section 144C(1)Section 92C

excess depreciation, foreign exchange fluctuation and under utilized capacity. The assessee has selected only one comparable i.e Triveni Glass Ltd. and the most appropriate method used by the assessee for benchmarking its international transaction was TNMM and profit level indicator used was operating profit/sales. The TPO has also considered ... acceptable. 9. Heard both the sides and perused the material on record. The assessee has benchmarked its international transactions following TNMM as most appropriate method. The TPO has not agreed with the assessee for making economic adjustment on account of excess depreciation, foreign exchange fluctuation and under utilized capacity

Toyota Kirloskar Motor Private Limited, Bangalore vs. DCIT, Circle-7(1)(1), Bangalore

In the result, appeal of the assessee is partly allowed

ITA 863/BANG/2023[2018-19]Status: DisposedITAT Bangalore22 Jan 2024AY 2018-19

Bench: Shri George George K. & Shri Chandra Poojari

For Appellant: Shri Narendra Kumar Jain, A.RFor Respondent: Shri Senthil Kumar N., D.R
Section 40A(2)

aggregated all the international transactions together for determining the arm's length price and evaluated these transactions by adopting TNMM as the most appropriate method. The salient arguments made by the assessee before the TPO are summarized below:  The assessee is a licensed manufacture of MUV, SUV and passenger cars ... benchmark royalty payments separately. The TNNM as MAM was not accepted by the TPO, who instead adopted the CUP method as the most appropriate method for benchmarking of royalty. 4.5.2.6 In response to the TPO's proposal, the assessee proposed that even if royalty needed to be benchmarked separately

ACIT (OSD) Corporate Range 1, Chennai vs. Dong A India Automotive Private Limited, Kancheepuram

In the result, appeals filed by the assessee’s in ITA No

ITA 1365/CHNY/2019[2008-09]Status: DisposedITAT Chennai19 Jan 2024AY 2008-09

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

Section 115JSection 40

whole and not with specific reference to forex loss or gains. The TPO/CIT(A) further observed that, when TNMM is used as most appropriate method, then item by item expenditure exclusion by way of economic adjustment will render the comparable method as irrelevant. 5. The ld. Counsel for the assessee

Dong-A India Automotive Pvt Limited, Kancheepuram vs. ITO, Corporate Ward 1(4), Chennai

In the result, appeals filed by the assessee’s in ITA No

ITA 360/CHNY/2018[2013-14]Status: DisposedITAT Chennai19 Jan 2024AY 2013-14

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

Section 115JSection 40

whole and not with specific reference to forex loss or gains. The TPO/CIT(A) further observed that, when TNMM is used as most appropriate method, then item by item expenditure exclusion by way of economic adjustment will render the comparable method as irrelevant. 5. The ld. Counsel for the assessee

Daesung Electric India Pvt. Ltd., Thiruvallur vs. ACIT (OSD), Chennai

In the result, appeals filed by the assessee’s in ITA No

ITA 585/CHNY/2017[2012-13]Status: DisposedITAT Chennai19 Jan 2024AY 2012-13

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

Section 115JSection 40

whole and not with specific reference to forex loss or gains. The TPO/CIT(A) further observed that, when TNMM is used as most appropriate method, then item by item expenditure exclusion by way of economic adjustment will render the comparable method as irrelevant. 5. The ld. Counsel for the assessee

Komos Automotive India Pvt Ltd, Kanchipuram vs. DCIT, Corporate Circle4(2), Chennai

In the result, appeals filed by the assessee’s in ITA No

ITA 2159/CHNY/2017[2013-14]Status: DisposedITAT Chennai19 Jan 2024AY 2013-14

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita No.: 585/Chny/2017 िनधा"रणवष" / Assessment Year: 2012-13 Ls Automotive India Private Limited Assistant Commissioner Of (Formerly Known As Daesung V. Income Tax (Osd), Electric India Pvt Ltd) Corporate Range 1, Room No. 603, 6Th Floor, No. 118, Padur Village, Thiruvelangadu Post, Wanaparthy Block, Kunnavalam V.O. No. 121, Aayakarbhavan, Thiruvallur – 631 210. Mahatma Gandhi Road, [Pan: Aakcs-1901-R] Nungamabakkam, Chennai – 600 034. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita No.: 2159/Chny/2017 िनधा"रणवष" / Assessment Year: 2013-14 Komos Automotive India Pvt Deputy Commissioner Of Limited, V. Income Tax, B-10/1, Sipcot Industrial Corporate Circle 4(2), 4Th Floor, Main Building, Development Centre, Oragadam, Vaippur-A Vilalge, No. 121, Mahatma Gandhi Sriperumbudurtaluk, Road, Nungamabakkam, Kanchipuramdist – 602 105. Chennai – 600 034. [Pan: Aacck-8859-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./It(Tp)A No.: 40/Chny/2019 &

Section 115JSection 40

whole and not with specific reference to forex loss or gains. The TPO/CIT(A) further observed that, when TNMM is used as most appropriate method, then item by item expenditure exclusion by way of economic adjustment will render the comparable method as irrelevant. 5. The ld. Counsel for the assessee

D.C.I.T., Circle-6(1), Kolkata vs. M/S Birla Corporation Ltd., Kolkata

In the result, the appeal of the revenue as well as cross-objection of the assessee are partly allowed

ITA 1964/KOL/2019[2015-16]Status: DisposedITAT Kolkata16 Jan 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 Dcit, Circle-6(1), Kolkata…………….......................…...……………....Appellant Vs. M/S Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] C.O. 39/Kol/2019 (A/O I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16 M/S Birla Corporation Ltd…………...........….....................…..…..... Cross-Objector Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] Vs Dcit, Circle-6(1), Kolkata…………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri J. P. Khaitan, Sr. Counsel, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : October 18, 2023 Date Of Pronouncing The Order : January 16, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal By The Revenue & The Corresponding Cross Objections By The Assessee Have Been Preferred Against The Order Dated 30.05.2019 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). First, We Take Up Revenue’S Appeal Ita No.1964/Kol/2019. I.T.A. No.1964/Kol/2019 & C.O. 39/Kol/2019 M/S Birla Corporation Ltd

Section 115JSection 14ASection 250Section 80I

also from the contentions of the appellant, it is noted that both the parties have in principle accepted and agreed that the most appropriate method for determination of ALP of power tariff is CUP Method. In the Ld. TPO's opinion the power tariff orders issued the relevant SECs