MAHALAXMI CONTINENTAL LIMITED,GUWAHATI vs. INCOME TAX OFFICER (DCIT/ACIT CIR-1), GUWAHATI

In the result, both the appeals of the assessee are allowed

Bench: Shri Duvvuru Rl Reddy & Shri Rajesh Kumar

45,08,356/-and the same amount was added back by the AO. The Appellant contends that it had adopted Comparable Uncontrolled Price (CUP) method to determine the purchase price from Associated Enterprises (AE) and the same should have been accepted by the AO. It is clear from records that TNMM is the Most Appropriate Method (MAM) for the Appellant

MAHALAXMI CONTINENTAL LIMITED,GUWAHATI vs. INCOME TAX OFFICER (DCIT/ACIT CIR-1), GUWAHATI

In the result, both the appeals of the assessee are allowed