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2011 (8) TMI 681 - AT - Income TaxArm Length Price - MOU provided direct cost and mark up of 80% assessee followed Cost Plus Method - AO made additions on information which was not supplied to assessee - Held That:- there was no basis on the assessment record how the AO has determined "ALP". The AO also admitted that the three cases relied upon in the assessment order are not comparable. - Addition made by AO not sustainable Whether case is required to remanded back - Applicability of Rule 10D - Held That:- Rule 10D is applicable only when the consideration received by the assessee exceeds Rs. l crore. - the assessee has duly complied with all the obligations which lay upon the assessee as per the provisions of Section 92C and Rule made thereunder. - no case is made out by the AO for any failure on the part of the assessee in complying with any provisions of section 92C or the Rule thereunder. Even in the remand report also the Revenue has not claimed any failure on the part of the assessee in complying with the provisions of section 92C or any Rule in this regard. - Decided in favor of assessee.
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