“tested party”

Transfer PricingSection 92CSection 92C615 judgments

The decision most relied on for tested party is ITO v. E Value Serve.com (75 Taxmann.com 195), cited in 60 judgments on BharatTax.

Leading authorities on tested party

ITO v. E Value Serve.com

75 Taxmann.com 195 · 2016 · Reported

citing judgments

In transfer pricing analysis, demanding daily balances for working capital adjustments is impractical and improper; adjustments should be based on opening and closing working capital. Transfer pricing inherently involves estimation to ensure comparability.

Ranbaxy Laboratories Ltd. v. ACIT

68 Taxmann.com 322 · 2016 · High Court

citing judgments

When benchmarking export transactions, the Associated Enterprise (AE) can be considered the tested party if it possesses the least complex functional analysis. The Assessing Officer's acceptance of a methodology in prior years can also support its use.

Capital IQ Information Systems India Pvt. Ltd. v. DCIT

32 Taxmann.com 21 · 2013 · ITAT

citing judgments

A change in depreciation policy impacts an entity's profitability, which is a key factor in assessing its suitability as a comparable company for transfer pricing analysis.

Skoda Auto India (P) Ltd. v. ACIT, Aurangabad

30 SOT 319 · 2009 · ITAT

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.

Development Consultants Pvt. Ltd. v. DCIT

115 TTJ 577 · 2008 · ITAT

citing judgments

The Arm's Length Price (ALP) must be determined on a transaction-by-transaction basis, and transactions should only be evaluated together if they are so closely linked or continuous that they cannot be adequately assessed separately. The 'tested party' for determining ALP should be the least complex entity.

Pr. CIT v. Aptara Technology (P.) Ltd.

92 Taxmann.com 240 · 2018 · High Court

citing judgments

A comparable company is not suitable if it has a significantly different business model, such as substantially higher outsourcing expenses as a percentage of operating costs, indicating a deviation from the tested party's operations.

Ranbaxy Laboratories Ltd. v. Additional Commissioner of Income-tax

110 ITD 428 · 2008 · ITAT

citing judgments

The tested party in a transfer pricing analysis should be the entity for which reliable comparable data is readily available and requires the fewest adjustments. This generally means selecting the party with the less complex functional analysis.

Smt. Raj Rani Devi Ramna v. CIT

201 ITR 1032 · 1993 · High Court

citing judgments

The transfer of property does not necessarily occur upon registration; the true test is the intention of the parties and whether there are any conditions precedent like payment of consideration or delivery of the deed.

Judgments citing tested party

Deputy Commissioner of Income Tax 14(2)(1), Mumbai vs. India Debt Management Private Limited, Mumbai

In the result, appeal by the Revenue is dismissed

ITA 5533/MUM/2017[2011-12]Status: DisposedITAT Mumbai29 Dec 2022AY 2011-12

Bench: Shri B.R. Baskaran & Shri Vikas Awasthyआअसं. 5533/मुं/2017 ("न.व. 2011-12) Dy. Commissioner Of Income Tax-14(2)(1) Room No. 432, 4Th Floor Aayakar Bhavan, M.K. Road, Mumbai 400020 ...... अपीलाथ"/Appellant बनाम Vs. M/S. India Debt Management P. Ltd. C-59, Platina, 'G' Block ..... ""तवाद"/Respondent Bkc, Bandra (East)Mumbai 400051 Pan:Aabci4256N अपीलाथ" "वारा/ Appellant By : Shri Uodal Raj Singh, Sr. Ar ""तवाद" "वारा/Respondent By : Shri Vijay Mehta

For Appellant: Shri Uodal Raj Singh, Sr. ARFor Respondent: Shri Vijay Mehta

Before closing this issue we may note that the tribunal in the impugned judgment has made certain observations suggesting that the identification of the “tested party” is imperative while applying other methods from comparison for transfer pricing and not while applying CUP method. Our non-consideration of the revenue

Asst CIT 9(2)(1), Mumbai vs. Canvasm Technologies Ltd, Mumbai

In the result, the appeal filed by the revenue is treated as allowed for statistical purposes

ITA 3980/MUM/2015[2009-10]Status: DisposedITAT Mumbai27 Dec 2022AY 2009-10

Bench: Shri B.R. Basakaran & Shri Rahul Chaudharydy. Commissioner Of Vs. M/S. Tech Mahindra Income Tax 2(3)(1), Limited, R.No.552, Aayakar Bhavan, (Successor In Interest To M.K. Road, M/S. Canvasm Mumbai – 400 020 Technologies Ltd.), Gateway Building, Apollo Bunder, Mumbai-400 001 Pan Aaccc8665N (Appellant) (Respondent) Assessee By : Mr. Viral Shah. Revenue By : Mr. Samruddhi Dhyananjay Hande, Dr Date Of Hearing : 16.11.2022 Date Of Pronouncement : 27.12.2022

For Appellant: Mr. Viral ShahFor Respondent: Mr. Samruddhi Dhyananjay

receipts for software services and payments for expenses and accordingly carried out its Transfer Pricing Study. The assessee had selected its AE as “tested party”. The TPO did not accept the same and accordingly directed the assessee to prepare fresh TP study taking itself as tested party. In the revised ... Rs.15.40 Crores towards Transfer Pricing Adjustment. 5 5.0 The Ld CIT(A) upheld the view of TPO that the assessee should be selected as tested party. We have noticed earlier that the TPO had adopted external TNMM for bench marking the transactions. However, Ld CIT(A) changed the methodology

Xchanging Solutions Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Circle-7(1)(1), Bangalore

In the result, the appeal is partly allowed

ITA 292/BANG/2022[2017-18]Status: DisposedITAT Bangalore21 Dec 2022AY 2017-18

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri K. Sankar Ganesh, Jt.CIT(DR)(ITAT), Bengaluru

Section 143(2)Section 143(3)

powers of enhancement held that no adjustment should be made to the profit margins on account of working capital differences between the tested party and the comparable companies for the following reasons: (i) The daily working capital levels of the tested party and the comparables was the only reliable basis ... because it is not an exact science. One has to see that reasonable adjustment is being made so as to bring both comparable and test party on same footing. Therefore there is little merit in CIT (A)'s objection on working adjustment based on unavailable daily working capital requirements data

Lintas India Private Limited, Mumbai vs. NFAC, Delhi

The appeal is allowed with the same directions

ITA 595/MUM/2022[2017-18]Status: DisposedITAT Mumbai09 Dec 2022AY 2017-18

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm Acit Cir 3(2)(1) Lintas India Private Limited It Office, R.No. 608, 6 Th 15Th Floor, Express Towers, Floor, Aayakar Bhavan, Nariman Point, Vs. M.K. Road, Mumbai-400021 Mumbai-400020 (Appellant) (Respondent) Pan No. Aaacl0124F Lintas India Private Addl/Joint/Deputy/Acit/Income- Limited 15Th Floor, Express Tax Officer, National Faceless Vs. Towers, Nariman Point, Appeal Centre, Delhi Mumbai-400 021 (Appellant) (Respondent) Pan No. Aaacl0124F Assessee By : Shri Ajit Jain & Siddhesh Chaugule Revenue By : Dr. Yogesh Kamat, Cit Dr Date Of Hearing: 13.09.2022 Date Of Pronouncement: 09/12/2022

For Appellant: Shri Ajit Jain and SiddheshFor Respondent: Dr. Yogesh Kamat, CIT DR

Section 143(3)Section 144CSection 144C(10)Section 144C(5)Section 92C

services, the assessee adopted the Transactional Net Margin Method [ TNMM] as the most appropriate method. Assessee selected the Associated Enterprises as tested party. As per the transfer pricing study report, the average operating profit/ total cost margin of the comparable for three different services was derived ... assessee failed to produce need test of the above services. The learned Transfer Pricing Officer also objected as associated enterprise is taken as tested party because assessee did not furnish the financials of associated enterprises with supporting documents. Accordingly, the CUP method was also rejected. The learned Transfer Pricing Officer

Lintas India P.Ltd, Mumbai vs. Asst CIT Cir 3(2)(1), Mumbai

The appeal is allowed with the same directions

ITA 398/MUM/2019[2014-15]Status: DisposedITAT Mumbai09 Dec 2022AY 2014-15

For Appellant: Shri Ajit Jain and SiddheshFor Respondent: Dr. Yogesh Kamat, CIT DR

Section 143(3)Section 144CSection 144C(10)Section 144C(5)Section 92C

Hp India Sales Private Limited, Bangalore vs. Assistant Commissioner of Income Tax, Circle-3(1)(1), Bangalore

In the result, ground 14 is allowed for statistical purposes

ITA 283/BANG/2022[2017-18]Status: DisposedITAT Bangalore07 Dec 2022AY 2017-18

Bench: Shri George George K, Jm & Shri Laxmi Prasad Sahu, Am It(Tp)A No.283/Bang/2022 : Asst.Year 2017-2018 M/S.Hp India Sales Private Ltd. The Assistant Commissioner No.24, Salarpuria Arena Of Income-Tax, Circle 3(1)(1) V. Bangalore. Hosur Main Road Adugodi Bengaluru – 560 030. Pan : Aaacc9862F. (Appellant) (Respondent) Appellant By : Sri.Ajay Vohra, Advocate Respondent By : Sri.Arun Kumar, Cit(Tp)-2-Dr Date Of Pronouncement : 07.12.2022 Date Of Hearing : 06.12.2022 O R D E R Per George George K, Jm : This Appeal At The Instance Of The Assessee Is Directed Against Final Assessment Order Dated 28.02.2022 Passed U/S 143(3) R.W.S. 144C(13) Of The I.T.Act. The Relevant Assessment Year Is 2017-2018. 2. The Assessee Has Raised 13 Grounds In Its Memorandum Of Appeal Dated 22.06.2022. The Learned Ar During The Course Of Hearing, Did Not Raise Any Specific Plea With Regard To Grounds 1 To 5, 10, 12 & 13 (Also Sub-Grounds), Hence, The Same Are Dismissed. The Surviving Grounds, Namely, Grounds 6 To 9, 11 & Its Sub-Grounds, Read As Follows:-

For Appellant: Sri.Ajay Vohra, AdvocateFor Respondent: Sri.Arun Kumar, CIT(TP)-2-DR

Section 143(3)Section 37Section 92B

consonance with Rule 10B(J)(e), which mandates only arriving at the net profit margin by comparing {he profits and loss account of the tested party with the comparable. The TN/v! Method proceeds on the assumption that functions, assets and risk being broadly similar and once suitable adjustments have been ... also in consonance with Rule 10B which mandates only arriving at the net profit by comparing the profit and loss account of the tested party with the comparable. As far as MSIL is concerned. its operating profit margin is 11.19% which 12 IT(TP)A No.283/Bang/2022. M/s.HP India Sales Private

M/S Toyota Kirloskar Motors (P) Ltd, Bangalore vs. The Assistant Commissioner of Income Tax Ltu Circle-1, Bangalore

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

ITA 150/BANG/2017[2012-13]Status: DisposedITAT Bangalore02 Dec 2022AY 2012-13

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

For Appellant: Sri Padam Chand Khincha, A.RFor Respondent: Sri Sunil Kumar Singh, D.R

Section 40A(2)

After careful study, it is found, that the .following filters or criteria may lead towards selecting proper comparables functionally similar to that of the tested party: a) Use of current year data: As per Rule 1013 '4), it is mandatory to use the contemporaneous data, Le,, the data ... reasons mentioned below: Refer to Rule 10B(i)(e) which mandates that adjustment can be made only to the comparables and not to the tested party. Rule is extracted below: (e) transactional net margin method, by which, - (i) the net profit margin realized by the enterprise from an international transaction

DCIT-1(2)(1), Mumbai vs. M/S Cactus Communication Pvt Ltd, Mumbai

The appeal of the Assessee is allowed

ITA 1491/MUM/2022[2012-2013]Status: DisposedITAT Mumbai30 Nov 2022AY 2012-2013

For Appellant: Shri Dhanesh Bafna, Pratik ShahFor Respondent: Ms. Samruddhi Dhananjay Hande

Section 143(3)Section 144Section 14A

adopted in the transfer pricing documentation; b. Rejecting the economic analysis undertaken by the Cross- objector, c. Not accepting the overseas AEs as tested party, being the least complex of the transacting entities, thus violating the basic principles of transfer pricing; and d. Erroneously considering the Cross-objector ... tested party and determining arm's length price using companies engaged in Information Technology enabled Services (ITeS) industry. 2. Without prejudice to the above, on the facts and in the circumstances of the case and in law, the Hon'ble CIT(A)/Ld. AO/Ld. TPO has erred in a computing

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

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

ITA 211/BANG/2022[2017-18]Status: DisposedITAT Bangalore30 Nov 2022AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Padam Chand Khincha, A.RFor Respondent: Shri K. Sankar Ganesh, D.R

Section 143(3)

market......'. Further, para 4.43 of the OECD Transfer Pricing Guidelines 2010 provide 'foreign sales/total sales' as one of the quantitative filter. When tested party's international transaction is compared, then it is implicit that comparison should be made with the entity having similar transaction. Therefore, if two transactions were ... types of inventory) 16. Making a working capital adjustment is an attempt to adjust for the differences in time value of money between the tested party and potential comparables, with an assumption that the difference should be reflected in profits. The underlying reasoning is that: • A company will need funding

Sasken Technologies Limited, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

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

ITA 404/BANG/2017[2012-13]Status: DisposedITAT Bangalore30 Nov 2022AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 404/Bang/2017 Assessment Year : 2012-13 M/S. Sasken Technologies Ltd., (Formerly Known As The Deputy Sasken Communication Commissioner Of Technologies Ltd.), Income Tax, No. 139/25, Domlur Circle – 6(1)(1), Ring Road, Vs. Bangalore. Bangalore – 560 071. Pan: Aaecs6424R Appellant Respondent : Shri Padam Chand Khincha, Assessee By Ca : Shri K. Sankar Ganesh, Jcit Revenue By Dr Itat Date Of Hearing : 15-11-2022 Date Of Pronouncement : 30-11-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against The Assessment Order Dated 31.01.2017 Passed By Ld.Dcit, Circle – 6(1)(1), Bangalore For A.Y. 2012-13 On Following Concise Grounds Of Appeal: “1. General:- The Learned Ao & The Drp Erred In Passing The Order / Directions In The Manner Passed By Them. The Orders Passed Being Bad In Law Is Liable To Be Quashed.

For Respondent: Shri Padam Chand Khincha

Section 133(6)Section 2(24)Section 92BSection 92C

interest rate what would have been earned by the assessee by advancing loan to unrelated party in India with a similar financial health as tested party subsidiary cannot be applied. The Hon'ble High Court further held that financial position and credit rating of subsidiary will be broadly same

Torrecid India Pvt. Ltd, Mumbai vs. Income Tax Circle-3(3) (1), Mumbai

Appeal of the assessee is allowed

ITA 660/MUM/2022[2017-18]Status: DisposedITAT Mumbai28 Nov 2022AY 2017-18

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Torrecid India Private Limited Income Tax Circle-3(3)(1) Flat No. 29,30,31, Gidc, Savli, Aaykar Bhavan, Mumbai-400 Alidra, Vadodara, Vs. 020 Gujarat-391775 (Appellant) (Respondent) Pan No. Aabcl4860B Assessee By : Shri. Sagar Sawhney. Revenue By : Shri. Samuel Pitta Srar Date Of Hearing: 01.09.2022 Date Of Pronouncement : 28.11.2022

For Appellant: Shri. Sagar SawhneyFor Respondent: Shri. Samuel Pitta SRAR

Section 143(3)Section 144C(13)

entered into international transaction of purchase of ceramic colors and glaze from associated enterprises. The assessee benchmarked this international transaction taking itself as a tested party adopting profit level indicator of gross profit ratio of trading segment. The gross profit of the assessee was 8.53%. Assessee selected 8 comparable companies ... Import of raw materials 14,02,80,914 Transactional net margin Method from Torrecid SA, Al taking foreign associated farben SA enterprises as tested parties and Torrecid Suzhou 2 Import of raw materials 74,07,971 CUP from Chilches materials SA Torrecid Maxico 3 Import of finished goods

Tyco Fire and Security India Private Limited, Bangalore vs. Assistant Commissioner of Income Tax, Circle-7(1)(1), Bangalore

In the result, the appeal of the Assessee is partly allowed

ITA 270/BANG/2021[2016-17]Status: DisposedITAT Bangalore28 Nov 2022AY 2016-17

Bench: Shri N. V. Vasudevan & Shri Chandra Poojariit(Tp)A No.270/Bang/2021 Assessment Year : 2016-17 Acit, M/S. Tyco Fire & Security India Private Limited, Vs. D-601, Rmz Centennial, Circle - 7(1)(1), Kundalahalli Main Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 0087 C Appellant Respondent Assessee By : Shri. Rajan Vora, Ca Revenue By : Shri. Sumer Singh Meena, Cit(Dr)(Itat), Bengaluru Date Of Hearing : 27/11.09.2022 Date Of Pronouncement : 28.11.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. Rajan Vora, CAFor Respondent: Shri. Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru

Section 143(3)Section 144C(13)Section 92Section 92(1)Section 92B(1)

Security India Pvt.Ltd. 16. Making a working capital adjustment is an attempt to adjust for the differences in time value of money between the tested party and potential comparables, with an assumption that the difference should be reflected in profits. The underlying reasoning is that: ♦ A company will need funding ... factors have to be kept in mind (i) The point in time at which the Receivables, Inventory and Payables should be compared between the tested party and the comparables, whether it should be the figures of receivables, inventory and payable at the year end or beginning of the year

Jm Morgan Stanley Securities P. Ltd, Mumbai vs. Addl CIT 4(3), Mumbai

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

ITA 7118/MUM/2010[2006-07]Status: DisposedITAT Mumbai25 Nov 2022AY 2006-07

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Sunil M. LalaFor Respondent: Ms. Vatsalaa Jha

Section 143(3)Section 144C(13)Section 144C(5)Section 14ASection 40Section 40A(2)

considering Transactional Net Margin Method as the most appropriate method with PLI of operating profit to total cost. Further, considering itself as the tested party, the assessee selected 9 companies as comparables and concluded that its aforesaid transaction is at arm’s length. The TPO vide order dated 20/10/2009 passed

M/S. Tricom Infotech Solutions Ltd, Mumbai vs. DCIT 3(3) (1), `Mumbai

In the result appeal filed by the assessee is allowed

ITA 2129/MUM/2021[2012-13]Status: DisposedITAT Mumbai21 Nov 2022AY 2012-13

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm M/S Tricom Infotech Solutions Ltd 2Nd Floor, Tricom House, Dcit 3(3)(1) Aaykar Bhavan, M.K. Gandhi Estate, Andheri Kurla Vs. Road, Safed Pool, Andheri Road, Mumbai- 400 020 (E) Mumbai- 400 072 (Appellant) (Respondent) Pan No. Aabcg8618E Assessee By : Shri. Reepal G. Tralshawala. Revenue By : Shri. Samuel Pitta Date Of Hearing: 06.09.2022 Date Of Pronouncement: 21.11.2022

For Appellant: Shri. Reepal G. TralshawalaFor Respondent: Shri. Samuel Pitta

Section 143Section 143(3)Section 144CSection 92

Income Tax, Transfer Pricing – 4 (2) (2), Mumbai [ the ld. TPO] for verification of ALP. 05. Assessee benchmarked these transactions,Considering, assessee as tested party adopting transactional net margin method [ TNMM] as the most appropriate method by computing profit level indicator [ PLI] of operating M/s Tricom Infotech Solutions ... transaction processing services. There is no dispute about the selection of the most appropriate method as transactional net margin method and assessee being a tested party. The only disputes are [1] determination of profit level indicator computation and [ 2] exclusions of three comparable. The assessee has computed

M/S. Radisys India Limited (Formerly Known As Radisys India Private Limited), Bengaluru vs. Deputy Commissioner of Income Tax, Circle- 5(1)(1), Bangalore

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

ITA 190/BANG/2022[2017-18]Status: DisposedITAT Bangalore18 Nov 2022AY 2017-18

For Appellant: Shri Mahveer C Jain, A.RFor Respondent: Shri Binod Kumar Singh, D.R

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

types of inventory) 16. Making a working capital adjustment is an attempt to adjust for the differences in time value of money between the tested party and potential comparables, with an assumption that the difference should be reflected in profits. The underlying reasoning is that: • A company will need funding ... factors have to be kept in mind (i) The point in time at which the Receivables, Inventory and Payables should be compared between the tested party and the comparables, whether it should be the figures of receivables, inventory and payable at the year end or beginning of the year

Global E-Business Operations Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle-5(3)(2), Bangalore

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

ITA 174/BANG/2022[2017-18]Status: DisposedITAT Bangalore16 Nov 2022AY 2017-18

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri Padam Chand Khincha, A.RFor Respondent: Shri Harinder Kumar, D.R

Section 144(3)Section 37Section 92C

Travelex India P.Ltd, Mumbai vs. Asst CIT 13(3)(2), Mumbai

In the result the issue under consideration is remitted back to the file of Assessing Officer for statistical purpose

ITA 1214/MUM/2015[2010-11]Status: DisposedITAT Mumbai07 Nov 2022AY 2010-11

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 144C(5)Section 92C

Fortune Infotech Ltd. 22.8 (xii). Microland Ltd., -3.79 (xiii). Professional Management Consultants Pvt. Ltd -12.07 8. TPO determined the PLI of the tested party at 9.22% which is lesser than the requisite mean of the comparables 33.38%. Accordingly, he determined the arm’s length price ... Tribunal in Hapag Lloyd Global Services Ltd. vs. DCIT (ITA No. 7539/Mum/2014 held that the turnover of Infosys BPO is very high comparative to tested party and excluded and excluded this comparable. Considering the consistent view of Hon’ble Delhi High Court, Hon’ble Bombay High Court and co-ordinate

Aquity Solutions India Pvt.Ltd(Formerly Known As Mmodal Global Services Pvt. Ltd, Mumbai vs. Dy.Ci.T.15(1) (1), Mumbai

In the result, appeal by the assessee is partly allowed

ITA 713/MUM/2022[2017-18]Status: DisposedITAT Mumbai02 Nov 2022AY 2017-18

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Shri Harsh ShahFor Respondent: Ms. Samruddhi D. Hande

Section 144BSection 144C(13)Section 144C(3)Section 144C(5)

benchmarking this transaction, assessee adopted Comparable Uncontrolled Price (“CUP”) method as the most appropriate method by considering itself as the tested party. For determination of arm‟s length price (“ALP”), assessee analysed service level agreement of AE with assessee and AE with Indian third-party service providers for medical transcription ... most appropriate method with Profit Level Indicator (“PLI”) of Operating Profit to Total Operating Expenses, for benchmarking the transaction. By considering itself as the tested party, assessee identified 12 comparable companies with arithmetic mean of weighted adjusted net cost plus markup of 10.44%, with 35th and 65th percentile range between

Addl CIT 3(1), Mumbai vs. Ambuja Cements Ltd ( Formerly Gujarat Ambuja Cements Ltd), Mumbai

In the result, the appeal of the revenue is dismissed

ITA 5927/MUM/2012[2005-06]Status: DisposedITAT Mumbai31 Oct 2022AY 2005-06

Section 143(3)

increase of volume- from US$ 34.95 to US$ 30.45. In the present case, the entire volume of exports is around 3% of the tested party transaction in one case and around 13% in another. Once it is an accepted position that the relationship between the price and volume, when variations

Ambuja Cements Ltd ( Formelry Known As Gujarat Ambuja Cements Ltd), Mumbai vs. Addl CIT RG 3(1), Mumbai

In the result, the appeal of the revenue is dismissed

ITA 5883/MUM/2012[2005-06]Status: DisposedITAT Mumbai31 Oct 2022AY 2005-06

Section 143(3)