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2024 (1) TMI 290 - HC - Income TaxTP Adjustment - Most Appropriate Method (MAM) for determining the Arm’s Length Price (ALP) - as per assessee Comparable Uncontrolled Price (CUP) Method should be applied - whether appellant/assessee had recovered from its AE a price higher than that which the AE received from DMRC? - comparables analysis - HELD THAT:- The matter is remitted to the CIT(A) for examination of the issues set forth hereafter: (i) Whether or not the appellant/assessee recovered from its AE a price higher than that which the AE received from DMRC against the supply of bogies/wagons. (ii) The comparables against which ALP should be benchmarked. (iii) Whether, in the facts and circumstances obtaining in the AY in issue, i.e., AY 2011-12, requires the usage of CUP Method for determining ALP as against TNM Method, as held by this court in its order dated 09.04.2018 passed in ITA No.223/2018. In other words, only if the CIT(A) finds that facts and circumstances subsist which distinguish it from those obtained in AY 2010-11, would he adopt a method different from the TNM method.
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