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2022 (5) TMI 1326 - AT - Income TaxTP adjustment - Intragroup services filed by the assessee from its AE in the facts and circumstances of the instant case - determining the ALP of those transactions at Rs.’Nil’ - HELD THAT:- We find that the ld. DRP having stated that CUP is the Most Appropriate Method to be adopted in this case did not bother to bring in comparable instances to determine the ALP using CUP whereas the assessee has adopted TNMM as the Most Appropriate Method and had benchmarked the same by bringing in the comparable companies and had benchmarked the same. No error was found in the said method by either of the lower authorities. Either way when the Revenue seeks to disturb the Most Appropriate Method adopted by the assessee, it is incumbent on the part of the Revenue to adopt any of the other prescribed methods in the statute i.e. Rule 10B of the Rules. Without resorting to any of the methods for the purpose of determining the ALP of international transaction, the ld. TPO erred in determining the ALP of intragroup services at Rs.’Nil’. This issue is fully settled by the Co-ordinate Bench decision of this Tribunal in the case of Lintas India Pvt Ltd., vs. DCIT [2019 (8) TMI 922 - ITAT MUMBAI] Thus we hold that the Revenue is not justified in determining the ALP of intragroup services at Rs.Nil. Accordingly, the transfer pricing adjustment made thereon are hereby directed to be deleted. Accordingly, the ground Nos. 1 & 2 raised by the assessee are allowed.
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