Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2024 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (3) TMI 949 - HC - Income TaxTP Adjustment - Comparable selection - ITAT excluding Modicare Limited [“Modicare”] as a comparable under the Resale Price Method [“RPM”] - ITAT after considering various factors such as the non-availability of data of Modicare for various product segments and marketing strategies, difference between the entities in the treatment of discounts given to consultants/agents and the substantial difference between the entities in the advertising, marketing and promotion expenses incurred by them - ITAT also held that the Transactional Net Margin Method [“TNMM”] ought to be adopted as the most appropriate method for benchmarking the respondent’s case. HELD THAT:- During the course of hearing today, it was brought to our attention that the matter has been resolved inter partes in terms of the assessment which came to be finalised for AY 2014-15 and that Modicare Limited has been excluded from the list of comparables to determine the ALP and the upward adjustments of income as proposed by the Department has not been undertaken as well. We are informed that the view taken therein has been duly accepted and followed in the subsequent years. Thus bearing in mind the principle of consistency, we find no justification to entertain the instant appeals.
|