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2023 (3) TMI 455 - AT - Income TaxTP adjustment in respect of Technical know-how fees paid by Appellant to its Associated Enterprise ('AE') - HELD THAT:- We find that the Coordinate Bench of Mumbai Tribunal in assessee’s own case for the A.Y. 2013-14 [2019 (9) TMI 1342 - ITAT, MUMBAI] TPO having not determined the ALP in conformity with the statutory provision and in the process having failed to demonstrate that ALP shown by the assessee is incorrect, the contentions of the Id. DR to restore the issue to the file of the Id. TPO for fresh determination of the ALP, is unacceptable. Respectfully following the aforesaid decision, we hold that there is no provision made in the statute empowering the Id. TPO for determining the ALP of a particular international transaction at Nil without resorting to any methods prescribed. Grounds of appeal no.1 of the assessee is allowed. Incorrect computation of mark-up on recovery of expenses by the appellant from it’s AE - HELD THAT:- As in assessee’s own case for the A.Y. 2013-14 [2019 (9) TMI 1342 - ITAT, MUMBAI]direct the Ld. A.O./TPO to delete the ALP adjustment made on recovery of expenses.
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