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2022 (3) TMI 469 - AT - Income TaxTP Adjustment - Amount of margin retained by the A.E.- CIT-A rejected the ground of the assessee that the transfer pricing adjustment should be restricted to the amount retained by the A.E. - HELD THAT:- We find that on identical issue, the Co–ordinate Bench of the Tribunal in ITO v/s M/s. Ominiglobe Information Technologies India Pvt. Ltd.,[2019 (4) TMI 1726 - ITAT DELHI] restricted the transfer pricing adjustment to the amount of margin retained by the A.E - Similar view was also expressed by another Co–ordinate Bench of the Tribunal in Fortune Infotech Ltd[2016 (2) TMI 382 - ITAT AHMEDABAD] Thus, respectfully following the aforesaid judicial precedence of the Co–ordinate Benches of the Tribunal, we direct the TPO/A.O. to restrict the transfer pricing adjustment to the amount retained by the A.E and compute the total income of the assessee in accordance with law. Since the issue relating to restricting the transfer pricing adjustment to the revenue retained by the A.E. from the customers is decided in favour of the assessee and against the Revenue, resultantly, the other grounds of appeal raised by the assessee in this appeal become academic in nature.
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