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2021 (2) TMI 715 - AT - Income TaxTP Adjustment - CIT(A) restricting the addition made by the Assessing Officer on the basis of working provided by the TPO, where the arms length margin was taken at 27.80% - HELD THAT:- The facts on the basis of which learned Commissioner (Appeals) has concluded thus, clearly emerge from the additional evidences furnished by the assessee. It is a fact that the additional evidences were forwarded to the TPO for his examination and necessary comments; however, he has chosen not to do so and has simply stated that additional evidences should not be admitted. Assessee has amply demonstrated that the transactions with the AEs are at arm's length. It is further to be noted that in Assessment Year 2004-05 similar adjustment made by the TPO and reduced by Commissioner (Appeals) by adopting identical method was restored back to the Assessing Officer by the Tribunal [2013 (1) TMI 369 - ITAT MUMBAI]. Thus, on overall consideration of facts and circumstances of the case, we are of the view that the revenue has failed to bring on record any material or substantive argument before us to controvert the findings of learned first appellate authority. That being the case, we do not find it appropriate to interfere with the decision of learned Commissioner (Appeals). Ground raised is dismissed.
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