Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (12) TMI 1343 - ITAT AHMEDABADAddition on upward adjustment in the international transaction related to sales - Held that:- Assessing Officer /TPO has not given any justification for adopting the CPM. Even in remand report, Assessing Officer /TPO has not given comments in respect of each and every ground and submission of assessee even though the TPO has sent the report after long time. All these things show that the TPO/Assessing Officer does not have any justification or valid reason for their upward adjustment. If the order of the Assessing Officer /TPO does not signifies that as to why assessee’s calculations were wrong and why TNMM adopted by assessee has to be rejected and why the CPM was correct as adopted by the Assessing Officer /TPO. These cases do not appear to be comparable for the reason discussed above. In view of above, CIT(A) was justified in deleting the addition made by TPO/Assessing Officer. This reasoned factual finding of CIT(A) needs no interference from our side. - Decided against revenue
|