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2022 (7) TMI 1408 - AT - Income TaxTP Adjustment - MAM selection - assessee has taken on lease dredgers from its associated enterprises - TPO rejected the independent valuer certificate used by the assessee for benchmarking the transaction of charter hire of dredgers using cup as most appropriate method and proceeded to benchmark charter hire dredgers and payment to associate enterprises for sub-contract of specified dredging activities using TNMM and aggregating these transaction - HELD THAT:- As decided in assessee's own case [2019 (5) TMI 1978 - ITAT MUMBAI] the material facts permeating through different assessment years are more or less identical as the terms and conditions on which the dredgers are hired have not changed. That being the case, applying the rule of consistency, a different view cannot be taken in the impugned assessment year with regard to the benchmarking of lease rentals paid for charter hire of dredgers by applying CUP method. For the aforesaid reasons, we allow the grounds raised by the assessee with a direction to the Assessing Officer / Transfer Pricing Officer to accept the benchmarking done by the assessee under CUP method after verifying the fact that the independent valuer has made the valuation as per CIRIA norms. Taxability of management service fees - Issue decided in favour of assessee as own case for A.Y. 2011-12 [2019 (5) TMI 1978 - ITAT MUMBAI] held that amount received is neither in the nature of royalty nor fees for technical services under Article–12 of India–Netherland Tax Treaty. That being the case, we delete the addition made by the Assessing Officer. Taxability of salary received - This issue also covered in favour of the assessee by the decision of the ITAT, Mumbai, in the case of the assessee itself [2019 (5) TMI 1978 - ITAT MUMBAI] held that reimbursement of salary is not in the nature of fees for technical services as per Article–12(5) of India–Netherland Tax Treaty. Therefore we delete the addition made by the Assessing Officer. These grounds are allowed.
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