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2014 (2) TMI 991 - ITAT MUMBAIDetermination of Arm’s Length Price – Transfer Pricing Adjustment - Held that:- The decision in Assistant Commissioner of Income-tax Versus DHL Danzas Lemuir (P.) Ltd. [2006 (9) TMI 498 - BOMBAY HIGH COURT] followed - The assessee shared profit in the ratio of 50:50 both on the payments made by it and the receipts of freight from its AEs - The assessee paid certain sum to its AEs abroad for doing the work similar to which it did for which it received freight revenue from its AEs - the assessee has earned/paid revenue from to its AEs in the same proportion – thus, the transactions have been recorded at arm's length price and there was no justification for making such addition – there is no reason to interfere with the order – Decided against Revenue. Denial of benefit of Percent range as per section 92C(2) of the Act – Held that:- The lower authorities have erred in denying the benefit of the proviso to Sec. 92C(2) of the Act while computing the ALP – thus, the benefit of the proviso to Section 92C(2) of the Act should be given to the assessee – Decided in favour of Assessee.
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