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2011 (2) TMI 268 - ITAT NEW DELHIArm’s length price - CUP or TNMM method - Dispute Resolution Panel (DRP) - The associated enterprise sells the wipers in the USA by importing them from the assessee in India and Chinese suppliers - Since both Indian and Chinese goods have been sold in the American market and products are comparable, the onus is on the revenue to show that the CUP method is not the appropriate method - all the documents and information mentioned in Rule 10D have not been maintained - Held that: evidence relied upon by the assessee establishes the true comparable nature of the transactions - buyer in the USA market will be more concerned with quality and price rather than economic conditions prevailing in China and India Regarding comparability of the products - In fact, the claim of the assessee is that Chinese goods are of better quality - it would have been appropriate for the assessee to make the data of the associated enterprise available to the Assessing Officer, at least in respect of sale of Chinese and Indian wipers so as to establish the comparability - Nonetheless that by itself would not displace the CUP method, which is objective in terms of the purchase price of the associated enterprise - CUP method is the valid method for determining sale price - In result, the appeal is treated as partly allowed for statistical purposes
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