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2021 (7) TMI 948 - AT - Income TaxTP adjustment - inclusion of the assessee’s DEPB incentives in rule 10(B)(1)(a)(ii) of Income Tax Rules as an adjustment in the Comparable Un-controlled Price “CUP” method for the purpose of arriving at arm’s length price ‘ALP’ under the provisions of the Act - HELD THAT:- The assessee’s argument seeking to include DEPB as an adjustment for “ALP” computation because it is in the nature of an operating income, ought not be accepted as it tends to have an overriding effect on application of chapter-X of the Act as per stricter interpretation rule. We therefore accept the Revenue’s instant former substantive grievance. Corporate guarantee adjustment - HELD THAT:- As it come on record that the assessee had itself recorded comparable guarantee commission @8.75% i.e. much more than that that decided by the tribunal - We therefore adopt judicial consistency and decline Revenue’s instant latter substantive ground for this precise reason alone.
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