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2014 (3) TMI 885 - AT - Income TaxAddition made u/s 92CA(A) of the Act – Transfer pricing adjustment – Held that:- There is no worthwhile discussion about the objections taken by the assessee in Form No. 35A - it is summary of the view canvassed by the AO/TPO for making addition without properly noting or dealing with the objections raised by the assessee - if the assessee’s similar transactions with non-Associated enterprises are available then it is always better to go by such internally comparable uncontrolled transactions for benchmarking the price charged/paid from/to its associated enterprises in comparable transactions- At the same time, it is relevant to observe that if complete data of such comparable uncontrolled transaction is not available, then the Revenue is at liberty to discard the CUP method and resort to any other suitable method - assessee contended that it has provided full details to satisfy the authorities below as regards the application of CUP method and hence the matter should be restored to the file of TPO instead of DRP, who had also failed to appreciate the contentions made before him - thus, the order set aside and the matter remitted back to the TPO – Decided in favour of Assessee.
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