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2023 (1) TMI 18 - AT - Income TaxTP Adjustment - Validity of TP order u/s. 92CA(3) - period of limitation - HELD THAT:- As we hold that the order date 01.11.2019 is passed beyond the period of limitation and therefore the adjustment proposed by way of transfer pricing order u/s. 92CA(3), therefore needs to be quashed. It is ordered accordingly. TDS u/s 195 - Disallowance u/s 40(a)(ia) - payments under the head ‘management fees’ - 'make availble claause' - nature of services rendered by the related parties to the AE is such that there is a knowledge that is transferred and imparted to the assessee and once the agreement is terminated, the assessee would be able to do the services based on the knowledge acquired - HELD THAT:- On perusal of the Service clause in the MSA, it is noticed that the service provider is providing regular management services relating to the business administration of the company and in our considered view there is no technical knowledge was imparted to the assessee. In view of the above and placing reliance on the decision of De Beers [2012 (5) TMI 191 - KARNATAKA HIGH COURT] we hold that the services rendered by the related parties to the assessee are not liable to tax deduction at source since there is no technology or technical knowledge is made available to the assessee. Appeal of the assessee is allowed.
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