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2023 (9) TMI 1310 - ITAT HYDERABADTP Adjustment - MAM - determination of the most appropriate method to benchmark the international transaction in respect of IT enabled Services (ITeS) - Assessee contending that when the assessee is rendering ITeS services to both AE segment and non-AEs segment, the comparison of those segments affords very reliable results than adopting the PLI taken from the external comparables - HELD THAT:- Neither the assessee nor the Revenue contend that there is any change in the functions performed, assets employed, and the risks assumed by the assessee from the same as in the assessment year 2009-10 [2017 (12) TMI 1867 - ITAT HYDERABAD] - Since the facts of this year are identical to the facts involved in the year 2009-10, while respectfully following the view taken by the Co-ordinate Bench for the assessment year 2009-10, where it this issue to the file of the AO/learned TPO with a direction to consider only the operating profit/operating cost of the transactions and also to consider internal TNMM where the services rendered by the assessee are similar to both AEs and non-AEs. Grounds relating to the issue are answered accordingly. TP adjustment in respect of the interest on trade receivables - In view of the fact that this issue in [2022 (6) TMI 1386 - ITAT HYDERABAD] is no longer res integra and in assessee’s own case, a view is taken that the interest on trade receivables is an international transaction, and has to be benchmarked separately and after considering the relevant factors pleaded by the assessee for such assessment year, took the view that 6% per annum is the appropriate rate of interest, we do not find any reason to deviate from this view or to distribute such view. Since no change of circumstances is brought to our notice, we follow the said view and direct the learned AO/learned TPO to consider interest rate on outstanding receivable at the year end @6% and recompute the transfer pricing adjustment.
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