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2022 (12) TMI 1257 - AT - Income TaxTP Adjustment - benchmarking qua AMP expenditure - HELD THAT:- Similar views have also been taken in previous years by this Tribunal [2019 (4) TMI 1774 - ITAT DELHI], wherein this Tribunal has also looked into the all the records and materials including ‘memorandum of understanding for basic transaction entered into between the assessee and its AE dated 01/06/2009’. Therefore, the contention of the Ld. DR that, the Tribunal has not looked into the ‘memorandum of understanding for basic transaction rules” is not correct. In view of the above binding decisions of this Tribunal mentioned supra and in the light of the discussion made above, we are of the opinion that, when there is no international transaction, no separate benchmarking qua AMP expenditure can be made; hence the adjustments are liable to be deleted. Appeal of the assessee is allowed.
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