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2021 (5) TMI 382 - AT - Income TaxTP Adjustment - determination of Most Appropriate Method (MAM) for the transfer pricing adjustment of the transactions - benchmarking the international transactions with regard to the AMP expenses, the assessee has opted for Resale Price Method (RPM) whereas the revenue has resorted to Transactional Net Margin Method (TNMM) as the Most Appropriate Method (MAM) - HELD THAT:- This issue has already been covered by the order of the ITAT in assessee's own case for the earlier assessment year 2013-14[2017 (5) TMI 1367 - ITAT DELHI] wherein it was held that RPM was MAM for benchmarking. Since, the matter stands covered in favour of the assessed for the earlier years and in the absence of any material change in the facts of the case brought to our notice, we hereby direct that the adjustment be determined considering as RPM as MAM. Adjustment on protective basis following the BLT method - HELD THAT:- This issue has been squarely covered by the order of the Co-ordinate Bench In the case of M/s. Toshiba India Pvt. Ltd. [2017 (12) TMI 125 - ITAT DELHI] wherein held that the BLT for computing Arm’s Length Price of AMP transaction has already been rejected by the Hon’ble Delhi High Court in the case of Sony Ericsson [2015 (3) TMI 580 - DELHI HIGH COURT] and thus adjustment even protective basis cannot be sustained. The decision of the Hon’ble Jurisdictional High Court is a binding precedent and the lower authorities cannot disregard it merely because the Revenue has challenged it before the Hon’ble Supreme Court. Thus, respectfully following the above decision of the Tribunal, we direct the Ld. AO/TPO to delete the protective addition. Accordingly, we allow the relevant grounds of the appeal of the assessee.
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