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2018 (11) TMI 1580 - AT - Income TaxALP adjustment in respect of international transaction - main contention of the petitioner is that ALP adjustment should be restricted to international transaction with its AE - Held that:- We find from the perusal of the orders of the lower authorities that this contention was not raised before the TPO, though this contention was raised before the Hon’ble Hon'ble DRP, we find no details of segments of AE and non- AE transactions. The assessee-company had not shown any authority that even under TNMM ALP adjustment should be restricted to AEs only nor the appellant contested the applicability of TNMM method. Thus, it cannot be said that there is a prima facie case in favour of the assessee-company. Moreover no financial statements had been filed before us establishing financial hardship to the assessee-company. In the absence of existence of prima facie case and financial hardship, we find no reason to stay the demand. Accordingly, the stay petition filed by the assessee is dismissed.
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