Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (12) TMI 1575 - AT - Income TaxTransfer pricing adjustment - Held that:- By our detailed reasoning we have held that the departments stand is correct as unique geographical market conditions of the source country in the present facts of the case have no relevance for bench-marking purposes. We have held the focus has to be on India prices as the market for the product of the assessee is India and any third uncontrolled entity for selling similar product would pay the price for the said product going by India specific prices as such they should form the basis for benchmarking. Accordingly we set aside the impugned order and restore the issue back fact to the TPO to readjudicate the issue afresh by way of a speaking order in accordance with law after giving the assessee a reasonable opportunity of being heard. The TPO shall also consider the benefit of +/- 5%, it available to the assessee on facts of the case. The impugned orders as such are set aside.
|