Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (8) TMI 1651 - AT - Income TaxTP Adjustment made on payment of royalty - HELD THAT:- Since, there is no material change in the facts of the present case, we respectfully following the decision of the coordinate Bench [2017 (4) TMI 231 - ITAT MUMBAI] rendered in the assessee’s appeals said that the payment of royalty by the assessee to its associated enterprises, Dow, Netherlands at five per cent. on domestic sales and eight per cent. on export sales is liable to be considered as at an arm's length rate in view of Circular No. 5 dated July 21, 2003 . Therefore, the addition made by the Assessing Officer on this count is unsustainable. We allow this ground of appeal and set aside the findings of the AO confirmed by the Ld. DRP. Accordingly, we direct the AO to delete the addition made on account of transfer pricing adjustment. - Decided in favour of assessee.
|