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2020 (8) TMI 239 - AT - Income TaxTP Adjustment - bench marking the transaction by adopting PLI of OP/VAE - economic rationale of using "Operating Profit/ Value Added Expenses" (,OP /V AE') as the Profit Level Indicator ('PLI'), and instead using "Operating Profit/ Total Cost" (,OP /TC') as the PLI - HELD THAT:- DR made similar submission in A.Y. 2010-11 [2019 (12) TMI 1258 - ITAT MUMBAI], which has been duly recorded and after considering the submission, the co-ordinate bench restored the matter to the file of AO/TPO for bench marking the transaction by adopting PLI of OP/VAE. So far as the ground related with the additional evidences are concerned we have noted that no new evidences were furnished by assessee before DRP. Moreover, ld DRP directed the TPO to verify the sample invoices to his satisfaction with regard to back to back third party charged as recorded in para 4.3.7.6 of the directions. Thus, considering the decision of co-ordinate bench of Tribunal and the order of the ld DRP, which is sound reasoning, we do not find any merit in the ground of appeal raised by revenue. Comparability - Om Logistics Ltd. - HELD THAT:- Considering the decision of Tribunal for earlier year, when no material difference on facts with regards to segmental data, is brought to our notice for the year under consideration, thus, respectfully following the order of coordinate bench, we direct the Assessing Officer to exclude the Om Logistics Ltd. which has a significant asset base, thus being functionally different could not have been feasibly selected as a comparable for the purpose of determining the arm’s length price of its international transactions for the year under consideration. Disallowance of depreciation on goodwill - HELD THAT:- This issue as regards the entitlement of the assesses towards claim of depreciation on intangible (i.e goodwill) is squarely covered by the orders of the coordinate benches of the Tribunal in the assesses own case for A.Y. 2008-09, A.Y. 2009-10 and A.Y 2012-13. Accordingly, finding no reason to take a different view, we respectfully follow the view taken by the Tribunal as regards the entitlement of the assessee towards claim for depreciation on intangibles (i.e goodwill) during the year under consideration
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