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2023 (4) TMI 471 - AT - Income Tax
TP Adjustment - Intra Group services received by the assessee - HELD THAT:- The Co-ordinate Bench of the Tribunal in Assessee’s own case for the Assessment Year 2009-10 [2021 (10) TMI 909 - ITAT DELHI] held that these services are intrinsically linked to the core business operations of the assessee and cannot be analysed in isolation. The agreement is an intrinsic one and that it is wrong to split the same and hold that some services are at arm's length and some services are not.TPO analysis of the assessee using TNMM as the MAM has to be accepted. When there is an agreement for services and certain services out of a bundle of services are undisputedly rendered, the entire agreement has to be viewed as a whole. Whether the services have actually resulted in a benefit to the assessee or not is not material. The conclusion of the Ld. TPO that the services have not resulted in any benefit and no independent entity would have made such a payment is in the realm of surmised and conjunctures and not backed by any material. Thus, the ALP determined by the assessee company is accepted and the TPO adjustment is deleted. Thus we uphold the contention of the assessee and delete the TP Adjustment.Appeal of the assessee is allowed.